Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
HC, dealing with tax demands post-CIRP under IBC, held that in view of prior coordinate bench rulings in the petitioner's own matters and the language of NCLT orders, the relevant date of final approval of the resolution plan is 04.09.2019, when the new management assumed control on a "clean slate" basis. Consequently, the impugned order raising demands for the period prior to 04.09.2019 was set aside as unsustainable against the successful resolution applicant. The respondent authority was granted liberty to issue a fresh show cause notice for any period after 04.09.2019, to be adjudicated in accordance with law. The petition was disposed of on these terms.
HC, dealing with tax demands post-CIRP under IBC, held that in view of prior coordinate bench rulings in the petitioner's own matters and the language of NCLT orders, the relevant date of final approval of the resolution plan is 04.09.2019, when the new management assumed control on a "clean slate" basis. Consequently, the impugned order raising demands for the period prior to 04.09.2019 was set aside as unsustainable against the successful resolution applicant. The respondent authority was granted liberty to issue a fresh show cause notice for any period after 04.09.2019, to be adjudicated in accordance with law. The petition was disposed of on these terms.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
