Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Whether the approved resolution plan was liable to be rejected for alleged non-compliance with s.29A(g) IBC turned on the time at which ineligibility must be assessed. Applying the principle that disqualification of a successful resolution applicant is to be tested as on the date of submission of the resolution plan, and relying on the resolution professional's confirmation and independent professional certifications showing no ineligibility on that date, the finding that the plan was non-compliant with s.29A(g) was set aside. The plan was remitted for fresh consideration by the adjudicating authority within a stipulated time, and the appeal was disposed of. - NCLAT
Whether the approved resolution plan was liable to be rejected for alleged non-compliance with s.29A(g) IBC turned on the time at which ineligibility must be assessed. Applying the principle that disqualification of a successful resolution applicant is to be tested as on the date of submission of the resolution plan, and relying on the resolution professional's confirmation and independent professional certifications showing no ineligibility on that date, the finding that the plan was non-compliant with s.29A(g) was set aside. The plan was remitted for fresh consideration by the adjudicating authority within a stipulated time, and the appeal was disposed of. - NCLAT
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