Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
NCLAT dismissed the appeal regarding liquidator's fees. The tribunal found no entitlement to fees under Regulation 4(3) of IBBI (Liquidation Process) Regulations, 2016, as sales realization of Rs. 78.47 crores was significantly less than liquidation costs of Rs. 132 crores. The liquidator's claim for Rs. 188,02,261/- was deemed not tenable, with no remaining realization for fee computation. The alternative request for reasonable compensation based on CIRP fees was also rejected. The appeal was conclusively dismissed with no fees payable to the liquidator.
NCLAT dismissed the appeal regarding liquidator's fees. The tribunal found no entitlement to fees under Regulation 4(3) of IBBI (Liquidation Process) Regulations, 2016, as sales realization of Rs. 78.47 crores was significantly less than liquidation costs of Rs. 132 crores. The liquidator's claim for Rs. 188,02,261/- was deemed not tenable, with no remaining realization for fee computation. The alternative request for reasonable compensation based on CIRP fees was also rejected. The appeal was conclusively dismissed with no fees payable to the liquidator.
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TaxTMI 
TaxTMI 
of 4915 
