Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Whether operational debt and default existed: the tribunal found invoices for supply of 346 units undisputedly delivered, partial payments accepted without quality/quantity or pricing objections, and an outstanding unpaid balance of €1,28,204.70 - therefore default on an operational debt that was due and payable was established. Whether pre-existing disputes barred Section 9 relief: the alleged exclusivity agreement involved a different legal entity, the injunction suit concerned distinct subject-matter and was not raised in the demand notice, and the asserted disputes were held frivolous - consequently no bona fide pre-existing dispute existed and admission under Section 9/CIRP initiation was valid. - NCLAT
Whether operational debt and default existed: the tribunal found invoices for supply of 346 units undisputedly delivered, partial payments accepted without quality/quantity or pricing objections, and an outstanding unpaid balance of €1,28,204.70 - therefore default on an operational debt that was due and payable was established. Whether pre-existing disputes barred Section 9 relief: the alleged exclusivity agreement involved a different legal entity, the injunction suit concerned distinct subject-matter and was not raised in the demand notice, and the asserted disputes were held frivolous - consequently no bona fide pre-existing dispute existed and admission under Section 9/CIRP initiation was valid. - NCLAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
