Third-party loose sheets require reliable nexus before supporting unexplained expenditure additions; presumptions do not establish payer identity or o...
TNMM comparability using audited accounts and working-capital adjustments can eliminate unwarranted transfer-pricing additions where verified margins ...
Gross-profit additions on disputed purchases require reasoned appellate determination; disclosed claims alone do not support inaccurate-particulars pe...
Limitation after transfer-pricing remand: fresh TPO reference did not extend the assessment deadline, rendering the consequential assessment time-barr...
Interim judicial restraint on tax deduction prevents default, while supporting reasonable cause and penalty deletion for foreign-leg LFC reimbursement...
Palmolein classification defeated the crude-oil concession; material misdeclaration sustained recovery and confiscation, while separate false-document...
The HC allowed the petition, quashing and setting aside the impugned order dated 25 February 2025, holding that statutory and other pre-approval claims not incorporated in an approved resolution plan stand extinguished on the date of approval under Section 31, IBC. The court found respondents' issuance and disposal of a show-cause notice post-approval to be contrary to binding apex court precedent and therefore wholly without jurisdiction. Consequently respondents are barred from pursuing proceedings or recovering dues accruing prior to the transfer/approval date, and the relief sought by the petitioner is granted, with all proceedings in respect of non-plan claims declared null and void.
The HC allowed the petition, quashing and setting aside the impugned order dated 25 February 2025, holding that statutory and other pre-approval claims not incorporated in an approved resolution plan stand extinguished on the date of approval under Section 31, IBC. The court found respondents' issuance and disposal of a show-cause notice post-approval to be contrary to binding apex court precedent and therefore wholly without jurisdiction. Consequently respondents are barred from pursuing proceedings or recovering dues accruing prior to the transfer/approval date, and the relief sought by the petitioner is granted, with all proceedings in respect of non-plan claims declared null and void.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
