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 SC upheld the primacy of the CoC's commercial wisdom under Section 14(1)(d) of the IBC during CIRP, affirming that the CoC's decision to relinquish possession of property to the owner is binding and lawful. The CoC, supported by the Resolution Professional, determined that retaining the property was financially imprudent, prompting the order for possession to be returned. The NCLAT's contrary order was set aside, and the NCLT's original decision restoring possession to the owner was reinstated. The Resolution Professional was directed to implement the possession handover without delay. The appeal was allowed, emphasizing that property recovery by the owner during moratorium is subject to the CoC's approval, which must be respected to avoid unwarranted delays in CIRP.
The SC upheld the primacy of the CoC's commercial wisdom under Section 14(1)(d) of the IBC during CIRP, affirming that the CoC's decision to relinquish possession of property to the owner is binding and lawful. The CoC, supported by the Resolution Professional, determined that retaining the property was financially imprudent, prompting the order for possession to be returned. The NCLAT's contrary order was set aside, and the NCLT's original decision restoring possession to the owner was reinstated. The Resolution Professional was directed to implement the possession handover without delay. The appeal was allowed, emphasizing that property recovery by the owner during moratorium is subject to the CoC's approval, which must be respected to avoid unwarranted delays in CIRP.
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