Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The dominant issue was whether a Section 7 application against a corporate guarantor was maintainable when the guarantee deed capped liability at Rs. 75 lakhs, below the Rs. 1 crore threshold under Section 4 IBC. Construing Clauses 1 and 2 strictly as a contractual document, the tribunal held that "not exceeding in the aggregate" fixed an outer ceiling of Rs. 75 lakhs for the entire basket of dues, including principal, interest, and charges, and "all moneys" could not expand liability beyond that cap. Since the capped default could not meet the statutory threshold, the admission order was set aside and CIRP against the corporate guarantor was terminated - NCLAT
The dominant issue was whether a Section 7 application against a corporate guarantor was maintainable when the guarantee deed capped liability at Rs. 75 lakhs, below the Rs. 1 crore threshold under Section 4 IBC. Construing Clauses 1 and 2 strictly as a contractual document, the tribunal held that "not exceeding in the aggregate" fixed an outer ceiling of Rs. 75 lakhs for the entire basket of dues, including principal, interest, and charges, and "all moneys" could not expand liability beyond that cap. Since the capped default could not meet the statutory threshold, the admission order was set aside and CIRP against the corporate guarantor was terminated - NCLAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
