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...
NCLAT rejected the Appellant's claim against the Corporate Debtor, finding no substantive evidence to support the alleged financial transactions. The tribunal determined that the Joint Development Agreement was invalid due to the disqualification of the director who signed it under Section 164(2)(a) of the Companies Act, 2013. The Appellant failed to provide conclusive documentation proving direct payments or establishing a legitimate debt claim. Consequently, the appeal was dismissed without merit, upholding the Resolution Professional's decision to not admit the Appellant's claim during the Corporate Insolvency Resolution Process.
NCLAT rejected the Appellant's claim against the Corporate Debtor, finding no substantive evidence to support the alleged financial transactions. The tribunal determined that the Joint Development Agreement was invalid due to the disqualification of the director who signed it under Section 164(2)(a) of the Companies Act, 2013. The Appellant failed to provide conclusive documentation proving direct payments or establishing a legitimate debt claim. Consequently, the appeal was dismissed without merit, upholding the Resolution Professional's decision to not admit the Appellant's claim during the Corporate Insolvency Resolution Process.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
