Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
An operational creditor's Section 9 application was rejected on the ground of a pre-existing dispute. Applying Mobilox, the tribunal held that where the corporate debtor has raised a plausible dispute supported by contemporaneous material, the insolvency process cannot be triggered. Here, the claim was repudiated in writing prior to the demand notice and again in the reply to the demand notice, constituting a "notice of dispute" under Section 9(5)(ii)(d), and the defence was not moonshine. Further, alleged salary defaults falling within the Section 10A period could not found a Section 9 proceeding. The rejection of the Section 9 application and dismissal of the appeal were upheld - NCLAT
An operational creditor's Section 9 application was rejected on the ground of a pre-existing dispute. Applying Mobilox, the tribunal held that where the corporate debtor has raised a plausible dispute supported by contemporaneous material, the insolvency process cannot be triggered. Here, the claim was repudiated in writing prior to the demand notice and again in the reply to the demand notice, constituting a "notice of dispute" under Section 9(5)(ii)(d), and the defence was not moonshine. Further, alleged salary defaults falling within the Section 10A period could not found a Section 9 proceeding. The rejection of the Section 9 application and dismissal of the appeal were upheld - NCLAT
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TaxTMI 
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