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...
NCLAT permitted correction of the nomenclature of the pending application from "Review" to "Recall," noting that the body already treated it as a recall application, and found no necessity to restrain NCLT from proceeding with the creditor's Section 7 IBC application. On the substantive prayer to recall and set aside NCLAT's earlier order (and thereby restore NCLT's dismissal of the Section 7 application), NCLAT held that the applicant was impermissibly seeking a re-appreciation of its judgment in the guise of recall, particularly after having approached the SC and not pressing the appeal. The recall application was dismissed.
NCLAT permitted correction of the nomenclature of the pending application from "Review" to "Recall," noting that the body already treated it as a recall application, and found no necessity to restrain NCLT from proceeding with the creditor's Section 7 IBC application. On the substantive prayer to recall and set aside NCLAT's earlier order (and thereby restore NCLT's dismissal of the Section 7 application), NCLAT held that the applicant was impermissibly seeking a re-appreciation of its judgment in the guise of recall, particularly after having approached the SC and not pressing the appeal. The recall application was dismissed.
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