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...
Operational creditor sought admission of a s.9 application based on invoices, relying on book adjustments and ledger entries to extend limitation and meet the threshold. The tribunal held that any acknowledgement after expiry of the three-year limitation is ineffective, and a journal entry merely transferring historic liabilities between units does not constitute a valid acknowledgement under s.18 nor revive time-barred invoices. A signed balance/ledger confirmation, being ambiguous and lacking an express promise to pay, did not attract s.25(3) of the Contract Act to create a fresh obligation, and interest was disallowed absent contractual terms. Consequently, the operational debt remained time-barred and the threshold finding stood; the appeal was dismissed. - NCLAT
Operational creditor sought admission of a s.9 application based on invoices, relying on book adjustments and ledger entries to extend limitation and meet the threshold. The tribunal held that any acknowledgement after expiry of the three-year limitation is ineffective, and a journal entry merely transferring historic liabilities between units does not constitute a valid acknowledgement under s.18 nor revive time-barred invoices. A signed balance/ledger confirmation, being ambiguous and lacking an express promise to pay, did not attract s.25(3) of the Contract Act to create a fresh obligation, and interest was disallowed absent contractual terms. Consequently, the operational debt remained time-barred and the threshold finding stood; the appeal was dismissed. - NCLAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
