Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The Insolvency and Bankruptcy Board of India issues a circular to insolvency professionals, directing stricter due diligence on eligibility of resolution applicants under Section 29A of the Insolvency and Bankruptcy Code, 2016. It reiterates existing obligations: inclusion of Section 29A ineligibility criteria in Form G, undertakings and affidavits from prospective resolution applicants confirming eligibility, and due diligence and certification by the resolution professional. Emphasizing that Section 29A compliance is essential to maintain process integrity and reduce post-approval legal challenges, the circular mandates resolution professionals to place a detailed note on Section 29A compliance before the Committee of Creditors and to ensure that related deliberations and observations are fully recorded in the minutes.
The Insolvency and Bankruptcy Board of India issues a circular to insolvency professionals, directing stricter due diligence on eligibility of resolution applicants under Section 29A of the Insolvency and Bankruptcy Code, 2016. It reiterates existing obligations: inclusion of Section 29A ineligibility criteria in Form G, undertakings and affidavits from prospective resolution applicants confirming eligibility, and due diligence and certification by the resolution professional. Emphasizing that Section 29A compliance is essential to maintain process integrity and reduce post-approval legal challenges, the circular mandates resolution professionals to place a detailed note on Section 29A compliance before the Committee of Creditors and to ensure that related deliberations and observations are fully recorded in the minutes.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
