Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
The dominant issue was maintainability of the appeal under the statutory time limit in section 421(3) of the Companies Act, 2013. The provision mandates filing within 45 days from the date the order is made available, with a further condonable period capped at 45 days on sufficient cause, creating an outer limit of 90 days. Applying the SC's extension directions, the last permissible date was computed as 30.05.2022; filing on 31.05.2022 exceeded the non-extendable outer limit. Consequently, the appeal was held time-barred and dismissed. - NCLAT
The dominant issue was maintainability of the appeal under the statutory time limit in section 421(3) of the Companies Act, 2013. The provision mandates filing within 45 days from the date the order is made available, with a further condonable period capped at 45 days on sufficient cause, creating an outer limit of 90 days. Applying the SC's extension directions, the last permissible date was computed as 30.05.2022; filing on 31.05.2022 exceeded the non-extendable outer limit. Consequently, the appeal was held time-barred and dismissed. - NCLAT
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