Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
SC held that the Resolution Plan submitted by JSW for Bhushan Power and Steel Limited was fundamentally flawed, involving multiple procedural and substantive irregularities. The Court found critical non-compliance with mandatory IBC provisions, including improper implementation of the Resolution Plan, failure of the Resolution Professional to verify eligibility criteria, and dubious conduct by the Committee of Creditors. Consequently, the SC quashed the NCLT and NCLAT orders, effectively setting aside the Resolution Plan and directing a fresh resolution process, emphasizing strict adherence to Insolvency and Bankruptcy Code regulations and time-bound resolution mechanisms.
SC held that the Resolution Plan submitted by JSW for Bhushan Power and Steel Limited was fundamentally flawed, involving multiple procedural and substantive irregularities. The Court found critical non-compliance with mandatory IBC provisions, including improper implementation of the Resolution Plan, failure of the Resolution Professional to verify eligibility criteria, and dubious conduct by the Committee of Creditors. Consequently, the SC quashed the NCLT and NCLAT orders, effectively setting aside the Resolution Plan and directing a fresh resolution process, emphasizing strict adherence to Insolvency and Bankruptcy Code regulations and time-bound resolution mechanisms.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
