Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
The appellate forum held that the claimant's filing was not barred by limitation because the claims invitation fell within the SC's suo motu excluded period, and the claimant was entitled to that benefit; consequently, rejection on "delay/limitation" was untenable. However, it upheld rejection on merits, finding substantial doubt about the loan document's authenticity due to irregular stamp paper particulars, absence of corporate authorization (e.g., board resolution) for execution, non-production of the original agreement to the resolution professional, and non-reflection of interest in financial statements when the claimant controlled management. The adjudicating authority could invoke inherent powers under Rule 11 to examine genuineness, and the claim was treated as not bona fide; the appeal was dismissed. - NCLAT
The appellate forum held that the claimant's filing was not barred by limitation because the claims invitation fell within the SC's suo motu excluded period, and the claimant was entitled to that benefit; consequently, rejection on "delay/limitation" was untenable. However, it upheld rejection on merits, finding substantial doubt about the loan document's authenticity due to irregular stamp paper particulars, absence of corporate authorization (e.g., board resolution) for execution, non-production of the original agreement to the resolution professional, and non-reflection of interest in financial statements when the claimant controlled management. The adjudicating authority could invoke inherent powers under Rule 11 to examine genuineness, and the claim was treated as not bona fide; the appeal was dismissed. - NCLAT
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