Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
NCLAT allowed the appeal and set aside the adjudicating authority's order admitting the Section 9 application, holding that a clear pre-existing dispute existed and a civil suit filed by the operational creditor, claiming the same sum as in the demand notice, was pending prior to issuance of the notice. The Tribunal found the corporate debtor's defence was plausible and not a feeble or unsupported contention; notice of the suit was placed before the operational creditor and the adjudicating authority. Under the scheme of Sections 8 and 9 (including Section 9(5)(ii)(d)), admission was impermissible where suit/arbitration predates the demand notice, so the Section 9 admission was erroneous.
NCLAT allowed the appeal and set aside the adjudicating authority's order admitting the Section 9 application, holding that a clear pre-existing dispute existed and a civil suit filed by the operational creditor, claiming the same sum as in the demand notice, was pending prior to issuance of the notice. The Tribunal found the corporate debtor's defence was plausible and not a feeble or unsupported contention; notice of the suit was placed before the operational creditor and the adjudicating authority. Under the scheme of Sections 8 and 9 (including Section 9(5)(ii)(d)), admission was impermissible where suit/arbitration predates the demand notice, so the Section 9 admission was erroneous.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
