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...
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
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
