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 whether the appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 was rightly dismissed as time-barred despite the appellant's explanation for delay. The Court held that the appellate tribunal inadequately and improperly evaluated the "sufficient cause" shown for condonation, warranting interference. Consequently, the order dismissing the appeal on limitation was set aside, and the matter was remitted for adjudication of the appeal on merits in accordance with law, with connected appeals to be heard together. - SC
The dominant issue was whether the appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 was rightly dismissed as time-barred despite the appellant's explanation for delay. The Court held that the appellate tribunal inadequately and improperly evaluated the "sufficient cause" shown for condonation, warranting interference. Consequently, the order dismissing the appeal on limitation was set aside, and the matter was remitted for adjudication of the appeal on merits in accordance with law, with connected appeals to be heard together. - SC
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