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...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
IBBI specifies mandatory formats under Regulation 38(3A) of the CIRP Regulations for inclusion in every resolution plan: (i) a "Statement of Beneficial Ownership" capturing prescribed particulars for each beneficial owner, with beneficial ownership determined under Rule 9(3) of the PMLA (Maintenance of Records) Rules, 2005 and requiring disclosure of intermediate entities; this standardises beneficial ownership disclosures and supports verification, with misrepresentation attracting consequences under applicable law. (ii) A notarised affidavit by the prospective resolution applicant's authorised signatory declaring eligibility or ineligibility for Section 32A benefit, with brief supporting facts; this compels an express Section 32A status declaration. The resolution professional must ensure both documents form part of the plan placed before the CoC and filed under Section 30(6).
IBBI specifies mandatory formats under Regulation 38(3A) of the CIRP Regulations for inclusion in every resolution plan: (i) a "Statement of Beneficial Ownership" capturing prescribed particulars for each beneficial owner, with beneficial ownership determined under Rule 9(3) of the PMLA (Maintenance of Records) Rules, 2005 and requiring disclosure of intermediate entities; this standardises beneficial ownership disclosures and supports verification, with misrepresentation attracting consequences under applicable law. (ii) A notarised affidavit by the prospective resolution applicant's authorised signatory declaring eligibility or ineligibility for Section 32A benefit, with brief supporting facts; this compels an express Section 32A status declaration. The resolution professional must ensure both documents form part of the plan placed before the CoC and filed under Section 30(6).
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