Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
NCLAT rejected contempt proceedings against resolution professional (RP) for filing Section 12A withdrawal application. The Tribunal determined that RP's application for CIRP withdrawal, approved by 98% Committee of Creditors (CoC) vote share, did not constitute willful disobedience of prior tribunal order. The RP was statutorily obligated to file withdrawal application, and since CoC did not approve fee payments to former or current RP, no contempt could be established. The tribunal found no merit in the contempt application, emphasizing that statutory compliance cannot be construed as contumacious conduct, thereby dismissing the application and protecting the RP's procedural actions under Insolvency and Bankruptcy Code.
NCLAT rejected contempt proceedings against resolution professional (RP) for filing Section 12A withdrawal application. The Tribunal determined that RP's application for CIRP withdrawal, approved by 98% Committee of Creditors (CoC) vote share, did not constitute willful disobedience of prior tribunal order. The RP was statutorily obligated to file withdrawal application, and since CoC did not approve fee payments to former or current RP, no contempt could be established. The tribunal found no merit in the contempt application, emphasizing that statutory compliance cannot be construed as contumacious conduct, thereby dismissing the application and protecting the RP's procedural actions under Insolvency and Bankruptcy Code.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
