Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
HC held that the civil suit concerning oppression and mismanagement is not maintainable. Section 430 of the Companies Act, 2013 explicitly bars civil court's jurisdiction in matters falling within NCLT's domain. The plaint is liable to be rejected under Order VII Rule 11(d) CPC as the suit is barred by law. The Court determined that plaintiffs must pursue their remedy before the specialized tribunal (NCLT), which possesses broader adjudicatory powers for expeditious resolution of corporate disputes. The suit stands rejected, with plaintiffs directed to seek appropriate relief through the designated corporate tribunal, without any observations on the substantive merits of the case.
HC held that the civil suit concerning oppression and mismanagement is not maintainable. Section 430 of the Companies Act, 2013 explicitly bars civil court's jurisdiction in matters falling within NCLT's domain. The plaint is liable to be rejected under Order VII Rule 11(d) CPC as the suit is barred by law. The Court determined that plaintiffs must pursue their remedy before the specialized tribunal (NCLT), which possesses broader adjudicatory powers for expeditious resolution of corporate disputes. The suit stands rejected, with plaintiffs directed to seek appropriate relief through the designated corporate tribunal, without any observations on the substantive merits of the case.
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TaxTMI 
TaxTMI 
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