Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The NCLAT held that an application for withdrawal of CIRP under Section 12A of the IBC must be considered as filed on the actual date of submission of the application under Regulation 30A, which distinguishes between filing before and after the constitution of the CoC. Where the application is filed before the CoC's constitution, approval by 90% of the CoC voting share is not required. However, if filed post-constitution, Section 12A's approval mandate applies in full. The appellant's argument relying solely on a Supreme Court observation was rejected, as the CoC had been constituted prior to the application's filing date. The appellant's failure to challenge the IRP's conduct via a miscellaneous application was noted. Consequently, the appeals lacked merit and were dismissed.
The NCLAT held that an application for withdrawal of CIRP under Section 12A of the IBC must be considered as filed on the actual date of submission of the application under Regulation 30A, which distinguishes between filing before and after the constitution of the CoC. Where the application is filed before the CoC's constitution, approval by 90% of the CoC voting share is not required. However, if filed post-constitution, Section 12A's approval mandate applies in full. The appellant's argument relying solely on a Supreme Court observation was rejected, as the CoC had been constituted prior to the application's filing date. The appellant's failure to challenge the IRP's conduct via a miscellaneous application was noted. Consequently, the appeals lacked merit and were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
