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...
SC adjudicated a dispute concerning the executability of an arbitral award post-corporate insolvency resolution plan. The Court held that upon NCLT's approval of the resolution plan, the respondent's claim stood extinguished, rendering the Facilitation Council's arbitral award dated 06.07.2018 non-executable. The Court rejected the HC's interpretation that the Facilitation Council retained jurisdiction to pronounce the award after the resolution plan's approval. Consequently, the SC allowed the appeal, declaring the award void and unenforceable, emphasizing that claims outside the resolution plan cannot be pursued post-NCLT approval.
SC adjudicated a dispute concerning the executability of an arbitral award post-corporate insolvency resolution plan. The Court held that upon NCLT's approval of the resolution plan, the respondent's claim stood extinguished, rendering the Facilitation Council's arbitral award dated 06.07.2018 non-executable. The Court rejected the HC's interpretation that the Facilitation Council retained jurisdiction to pronounce the award after the resolution plan's approval. Consequently, the SC allowed the appeal, declaring the award void and unenforceable, emphasizing that claims outside the resolution plan cannot be pursued post-NCLT approval.
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TaxTMI 
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