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...
SC held that service of demand notice by Operational Creditor to Key Managerial Personnel at Corporate Debtor's registered office constitutes valid statutory notice under Section 8 of IBC. The appeal was allowed, setting aside previous orders and remanding the matter to NCLT for fresh adjudication on merits. The court emphasized that the demand notice explicitly called upon the Corporate Debtor to pay operational debt within ten days, and the issue of contract novation and precise default date requires detailed examination by NCLT through comprehensive evidentiary analysis.
SC held that service of demand notice by Operational Creditor to Key Managerial Personnel at Corporate Debtor's registered office constitutes valid statutory notice under Section 8 of IBC. The appeal was allowed, setting aside previous orders and remanding the matter to NCLT for fresh adjudication on merits. The court emphasized that the demand notice explicitly called upon the Corporate Debtor to pay operational debt within ten days, and the issue of contract novation and precise default date requires detailed examination by NCLT through comprehensive evidentiary analysis.
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