Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Page of 4830
Press 'Enter' after typing page number.
7761 to 7780 of 96587 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
NCLAT upheld the NCLT's rejection of the appellant's intervention and challenge to the approved Resolution Plan. It held that the appellant lacked locus standi, having already been denied intervention and not even being an unsuccessful Resolution Applicant, and thus was neither a necessary nor a proper party. NCLAT reiterated that adjudicating authorities cannot interfere with the commercial wisdom of the CoC absent a demonstrated violation of Section 30(2) of the I&B Code, which was not shown. Alleged information gaps and postulated asset value reduction were immaterial, as the SRA had acknowledged the liability. The appeal was found mala fide and was dismissed.
NCLAT upheld the NCLT's rejection of the appellant's intervention and challenge to the approved Resolution Plan. It held that the appellant lacked locus standi, having already been denied intervention and not even being an unsuccessful Resolution Applicant, and thus was neither a necessary nor a proper party. NCLAT reiterated that adjudicating authorities cannot interfere with the commercial wisdom of the CoC absent a demonstrated violation of Section 30(2) of the I&B Code, which was not shown. Alleged information gaps and postulated asset value reduction were immaterial, as the SRA had acknowledged the liability. The appeal was found mala fide and was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
