Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
The NCLAT affirmed the Adjudicating Authority's findings that the appellants, suspended directors of the corporate debtor, were duly served via official email and postal addresses as per MCA records, and at least two directors appeared before the Tribunal and CoC meetings. The appellants failed to cooperate with the IRP/RP/Liquidator by withholding statutory books and accounts and ignoring notices, summons, and warrants. The Tribunal's observations reiterating facts to justify the corporate debtor's dissolution were upheld as non-grievous. The appeal, filed primarily to defend ongoing criminal proceedings initiated by the RP's complaint to IBBI, lacked merit. Consequently, the Tribunal found no grounds to interfere with the impugned judgment or its observations and dismissed the appeal.
The NCLAT affirmed the Adjudicating Authority's findings that the appellants, suspended directors of the corporate debtor, were duly served via official email and postal addresses as per MCA records, and at least two directors appeared before the Tribunal and CoC meetings. The appellants failed to cooperate with the IRP/RP/Liquidator by withholding statutory books and accounts and ignoring notices, summons, and warrants. The Tribunal's observations reiterating facts to justify the corporate debtor's dissolution were upheld as non-grievous. The appeal, filed primarily to defend ongoing criminal proceedings initiated by the RP's complaint to IBBI, lacked merit. Consequently, the Tribunal found no grounds to interfere with the impugned judgment or its observations and dismissed the appeal.
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TaxTMI 
TaxTMI 
of 4918 
