Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
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NCLAT affirmed the lower tribunal's order regarding unauthorized withdrawal of Rs. 32 lakhs from corporate debtor's account during moratorium period under Section 14 of IBC. The appellants demonstrated persistent non-cooperation and brazen disobedience of prior orders. The tribunal held that the withdrawal violated IBC provisions, rendering the suspended directors liable to deposit the entire amount with 12% per annum interest into the liquidation estate. The appeal was summarily dismissed as lacking substantive legal merit, with the order becoming final due to non-challenge of previous judicial determinations.
NCLAT affirmed the lower tribunal's order regarding unauthorized withdrawal of Rs. 32 lakhs from corporate debtor's account during moratorium period under Section 14 of IBC. The appellants demonstrated persistent non-cooperation and brazen disobedience of prior orders. The tribunal held that the withdrawal violated IBC provisions, rendering the suspended directors liable to deposit the entire amount with 12% per annum interest into the liquidation estate. The appeal was summarily dismissed as lacking substantive legal merit, with the order becoming final due to non-challenge of previous judicial determinations.
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