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...
HC held that proceedings initiated by the 3rd Respondent before the DRT against the personal guarantor were without jurisdiction, as Section 60(1) IBC mandates that insolvency and related proceedings concerning corporate debtors and their personal guarantors lie before the NCLT. The Court ruled that applications under Section 95(1) are maintainable before NCLT irrespective of pendency of CIRP or liquidation. Consequently, the DRT's order dated 2 May 2022 was declared null and set aside. HC directed the DRT to transfer all pending proceedings in these matters to the NCLT within four weeks, while granting liberty to the 2nd and 3rd Respondents to seek appropriate reliefs before NCLT.
HC held that proceedings initiated by the 3rd Respondent before the DRT against the personal guarantor were without jurisdiction, as Section 60(1) IBC mandates that insolvency and related proceedings concerning corporate debtors and their personal guarantors lie before the NCLT. The Court ruled that applications under Section 95(1) are maintainable before NCLT irrespective of pendency of CIRP or liquidation. Consequently, the DRT's order dated 2 May 2022 was declared null and set aside. HC directed the DRT to transfer all pending proceedings in these matters to the NCLT within four weeks, while granting liberty to the 2nd and 3rd Respondents to seek appropriate reliefs before NCLT.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
