Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
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Liability of suspended management to contribute to the corporate debtor's assets under Section 66 IBC was upheld on findings of fraudulent/wrongful trading based on unexplained cash withdrawals and related-party payments evidenced from bank statements. The RP's decision to commission a transaction audit was held justified because statutory records and asset possession were withheld, leaving no alternative evidentiary source. Once the RP established prima facie suspect transactions, the burden shifted to the directors to prove they were in the ordinary course of business; failure to produce reliable supporting documentation disentitled them from benefiting from evidentiary gaps created by their own non-cooperation. The appellate challenge to the contribution direction was rejected and the appeal was dismissed. - NCLAT
Liability of suspended management to contribute to the corporate debtor's assets under Section 66 IBC was upheld on findings of fraudulent/wrongful trading based on unexplained cash withdrawals and related-party payments evidenced from bank statements. The RP's decision to commission a transaction audit was held justified because statutory records and asset possession were withheld, leaving no alternative evidentiary source. Once the RP established prima facie suspect transactions, the burden shifted to the directors to prove they were in the ordinary course of business; failure to produce reliable supporting documentation disentitled them from benefiting from evidentiary gaps created by their own non-cooperation. The appellate challenge to the contribution direction was rejected and the appeal was dismissed. - NCLAT
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