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 HC held that NCLT approval of a resolution plan constitutes a judicial determination extinguishing all liabilities of the corporate debtor not preserved in the plan, including contingent criminal liabilities, and that Section 32A IBC confers immunity on a successful resolution applicant who satisfies statutory preconditions. The court found that permitting a prosecuting agency to relitigate such extinguished liabilities undermines the finality of insolvency proceedings and may amount to double jeopardy. The petition was disposed with directions that the successful resolution applicant shall appear before the trial court, produce the NCLT order and the Section 32A immunity grant, and the trial court shall consider those submissions and pass a reasoned order on whether the applicant is to be arrayed as an accused.
The HC held that NCLT approval of a resolution plan constitutes a judicial determination extinguishing all liabilities of the corporate debtor not preserved in the plan, including contingent criminal liabilities, and that Section 32A IBC confers immunity on a successful resolution applicant who satisfies statutory preconditions. The court found that permitting a prosecuting agency to relitigate such extinguished liabilities undermines the finality of insolvency proceedings and may amount to double jeopardy. The petition was disposed with directions that the successful resolution applicant shall appear before the trial court, produce the NCLT order and the Section 32A immunity grant, and the trial court shall consider those submissions and pass a reasoned order on whether the applicant is to be arrayed as an accused.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
