Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Where an authority directed a stakeholder to remit CIRP costs within a stipulated time and file a compliance memo, and that foundational order was neither challenged nor stayed, its directions attained finality and were mandatorily enforceable. An ensuing order merely compelling compliance and warning of initiation of contempt proceedings for continued default was held to be a natural consequence of disobedience and not amenable to interference, particularly as no contempt finding or punishment had yet been imposed. As the liability to pay CIRP costs had already been conclusively determined in the unchallenged prior order, the appeal against the compliance-enforcement order was dismissed. - NCLAT
Where an authority directed a stakeholder to remit CIRP costs within a stipulated time and file a compliance memo, and that foundational order was neither challenged nor stayed, its directions attained finality and were mandatorily enforceable. An ensuing order merely compelling compliance and warning of initiation of contempt proceedings for continued default was held to be a natural consequence of disobedience and not amenable to interference, particularly as no contempt finding or punishment had yet been imposed. As the liability to pay CIRP costs had already been conclusively determined in the unchallenged prior order, the appeal against the compliance-enforcement order was dismissed. - NCLAT
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