Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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The NCLAT upheld the Adjudicating Authority's finding that the Resolution Plan submitted by the appellant, approved by the CoC with an 80.13% vote share, did not violate Section 30(2) of the IBC. However, the Adjudicating Authority identified non-compliance with the CIRP Regulations, 2016 by the Resolution Professional and issued remedial directions, including a fresh valuation. The Tribunal modified interim orders to permit the Resolution Professional to conduct transaction audits and valuations. The appellant, as a successful resolution applicant, remains entitled to submit a resolution plan upon the CoC's issuance of a fresh Request for Resolution Plan. The appeal was disposed of accordingly, affirming the appellant's right to participate in the CIRP process while ensuring regulatory compliance through remedial measures.
The NCLAT upheld the Adjudicating Authority's finding that the Resolution Plan submitted by the appellant, approved by the CoC with an 80.13% vote share, did not violate Section 30(2) of the IBC. However, the Adjudicating Authority identified non-compliance with the CIRP Regulations, 2016 by the Resolution Professional and issued remedial directions, including a fresh valuation. The Tribunal modified interim orders to permit the Resolution Professional to conduct transaction audits and valuations. The appellant, as a successful resolution applicant, remains entitled to submit a resolution plan upon the CoC's issuance of a fresh Request for Resolution Plan. The appeal was disposed of accordingly, affirming the appellant's right to participate in the CIRP process while ensuring regulatory compliance through remedial measures.
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