Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
The AT addressed the interplay between PMLA and IBC provisions regarding attached properties of a corporate debtor. The tribunal held that Section 32-A(2) prohibits actions against corporate debtor properties for offenses predating the corporate insolvency resolution process. The resolution plan for the corporate debtor was approved by the Committee of Creditors, permitting property disposal as per resolution plan terms. If the resolution plan fails, the appellant bank can seek auction sale through the PMLA Court, with an undertaking to deposit excess proceeds. The tribunal emphasized that no punitive action shall be taken against corporate debtor properties covered under an approved resolution plan, effectively balancing investigative interests with insolvency resolution mechanisms. Appeal disposed of.
The AT addressed the interplay between PMLA and IBC provisions regarding attached properties of a corporate debtor. The tribunal held that Section 32-A(2) prohibits actions against corporate debtor properties for offenses predating the corporate insolvency resolution process. The resolution plan for the corporate debtor was approved by the Committee of Creditors, permitting property disposal as per resolution plan terms. If the resolution plan fails, the appellant bank can seek auction sale through the PMLA Court, with an undertaking to deposit excess proceeds. The tribunal emphasized that no punitive action shall be taken against corporate debtor properties covered under an approved resolution plan, effectively balancing investigative interests with insolvency resolution mechanisms. Appeal disposed of.
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