Allow deduction under s.36(1)(vii) for accounting write-offs; delete s.36(1)(iii) disallowances on business interest including advances to related ent...
Assessee entitled to depreciation on slump-sale goodwill; s.43(1)/43(6 explanations inapplicable; goodwill and non-compete amortisation treated as non...
NCLAT dismissed both appeals and all pending interlocutory applications, upholding the Adjudicating Authority's refusal to implead the Appellant and its rejection of the intervention application. The Tribunal held that the Appellant was not a necessary party under Order I r.10 CPC because effective adjudication of IA No.1091/2024 could occur in the Appellant's absence. The Adjudicating Authority permissibly granted leave to file a counterclaim before the Arbitral Tribunal during the moratorium under Section 14 IBC, subject to a rider keeping declaration of any award in abeyance; that order's legal consequences could not be agitated by the absent-party objection, and no interference was warranted.
NCLAT dismissed both appeals and all pending interlocutory applications, upholding the Adjudicating Authority's refusal to implead the Appellant and its rejection of the intervention application. The Tribunal held that the Appellant was not a necessary party under Order I r.10 CPC because effective adjudication of IA No.1091/2024 could occur in the Appellant's absence. The Adjudicating Authority permissibly granted leave to file a counterclaim before the Arbitral Tribunal during the moratorium under Section 14 IBC, subject to a rider keeping declaration of any award in abeyance; that order's legal consequences could not be agitated by the absent-party objection, and no interference was warranted.
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