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...
HC held that once a resolution plan is approved under IBC Section 31, all claims are frozen and binding on stakeholders. The claims by operational creditors were addressed in the amended resolution plan, effectively creating a clean slate for the corporate debtor. Applying CPC Order XII Rule 6, the court found unambiguous admissions warranting immediate judgment. The suit was decreed, ordering the defendant to pay Rs. 19,55,00,000 with 24% per annum interest, based on the principle of speedy resolution and extinguishment of pre-resolution claims.
HC held that once a resolution plan is approved under IBC Section 31, all claims are frozen and binding on stakeholders. The claims by operational creditors were addressed in the amended resolution plan, effectively creating a clean slate for the corporate debtor. Applying CPC Order XII Rule 6, the court found unambiguous admissions warranting immediate judgment. The suit was decreed, ordering the defendant to pay Rs. 19,55,00,000 with 24% per annum interest, based on the principle of speedy resolution and extinguishment of pre-resolution claims.
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TaxTMI 
TaxTMI 
of 4915 
