Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
The HC affirms the impugned order and dismisses the appeal. The court held that the Official Liquidator, acting pursuant to statutory duty, incurred bona fide preservation and security expenses in reliance on the appellant's officers' statements and court undertakings identifying the subject property as an asset of the company in liquidation. The appellant is estopped and barred by waiver from repudiating those unchallenged undertakings and court orders, and its unexplained, belated objection cannot vitiate the lawful actions of the Official Liquidator. Misrepresentation or suppression by officers undermines the liquidation process and attracts civil and penal consequences. The HC found the Official Liquidator's actions reasonable and justified, and affirmed the impugned order dated 20.04.2022.
The HC affirms the impugned order and dismisses the appeal. The court held that the Official Liquidator, acting pursuant to statutory duty, incurred bona fide preservation and security expenses in reliance on the appellant's officers' statements and court undertakings identifying the subject property as an asset of the company in liquidation. The appellant is estopped and barred by waiver from repudiating those unchallenged undertakings and court orders, and its unexplained, belated objection cannot vitiate the lawful actions of the Official Liquidator. Misrepresentation or suppression by officers undermines the liquidation process and attracts civil and penal consequences. The HC found the Official Liquidator's actions reasonable and justified, and affirmed the impugned order dated 20.04.2022.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
