Revenue authority mandates using scheme-specific reversal procedures, not revising original entries, for instrument-based trade/customs benefits effec...
Transaction value under s.15(1) governs unrelated sales; valuation between related parties per Rule 28; consignment note required for unregistered rec...
The NCLAT dismissed the company appeal, upholding the Principal Bench's confirmation of the impugned NCLT order and the approved resolution plan. The Tribunal held that nothing substantial survives for adjudication on merits where the Principal Bench has already validated the resolution plan and related determinations in the lead batch of appeals. The appellant's characterization of its submission as a contingent claim, and contention that the RP improperly treated it as an ordinary claim or artificially classified claims, did not alter the outcome; the resolution plan, including the 24-month cap for creditors to crystallize claims, stands confirmed and the challenge to the impugned order is rejected.
The NCLAT dismissed the company appeal, upholding the Principal Bench's confirmation of the impugned NCLT order and the approved resolution plan. The Tribunal held that nothing substantial survives for adjudication on merits where the Principal Bench has already validated the resolution plan and related determinations in the lead batch of appeals. The appellant's characterization of its submission as a contingent claim, and contention that the RP improperly treated it as an ordinary claim or artificially classified claims, did not alter the outcome; the resolution plan, including the 24-month cap for creditors to crystallize claims, stands confirmed and the challenge to the impugned order is rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
