Refund claim dismissed as time-barred under s.142(5); non-obstante clause read restrictively, merits not decided, self-assessment payments not mere de...
Assessee's project-completion revenue recognition upheld; income addition deleted under Guidance Note/AS-9 and percentage-completion rules as complian...
NCLAT dismissed the Company Appeal for want of merit and declined condonation relief, holding that the Appellant, having withdrawn the related Company Appeal arising from IA No. 419/2024, lacks locus to impugn the order on IA No. 805/2024. The Tribunal observed the relief sought in IA No. 805/2024 mirrored that in IA No. 419/2024 and was bound by directions issued on IA No. 419/2024. Further, the Appellant participated in the final round of the challenge process without contemporaneous objection and the resolution plan has been approved under Section 30(6) read with Section 60(5) of the IBC, leaving no subsisting cause of action; appeal dismissed.
NCLAT dismissed the Company Appeal for want of merit and declined condonation relief, holding that the Appellant, having withdrawn the related Company Appeal arising from IA No. 419/2024, lacks locus to impugn the order on IA No. 805/2024. The Tribunal observed the relief sought in IA No. 805/2024 mirrored that in IA No. 419/2024 and was bound by directions issued on IA No. 419/2024. Further, the Appellant participated in the final round of the challenge process without contemporaneous objection and the resolution plan has been approved under Section 30(6) read with Section 60(5) of the IBC, leaving no subsisting cause of action; appeal dismissed.
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