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...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
The SC allowed the appeal, set aside the NCLAT and NCLT orders, and directed the respondent to execute the conveyance deed and deliver possession of Apartment No. GBD-00-001, Block D, IREO Rise (Gardenia), Mohali to the appellants within two months. The court held the appellants' claim-verified by the resolution professional and incorporated in the published list of creditors prior to plan approval-had full legal recognition under the CIRP and could not lawfully be treated as belated or reduced to a mere refund claim under Clause 18.4(xi). The SC found the lower tribunals misapplied the approved resolution plan and prejudicially relegated bona fide allottees.
The SC allowed the appeal, set aside the NCLAT and NCLT orders, and directed the respondent to execute the conveyance deed and deliver possession of Apartment No. GBD-00-001, Block D, IREO Rise (Gardenia), Mohali to the appellants within two months. The court held the appellants' claim-verified by the resolution professional and incorporated in the published list of creditors prior to plan approval-had full legal recognition under the CIRP and could not lawfully be treated as belated or reduced to a mere refund claim under Clause 18.4(xi). The SC found the lower tribunals misapplied the approved resolution plan and prejudicially relegated bona fide allottees.
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TaxTMI 
TaxTMI 
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