Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
Contingency expenses, exempt-income disallowance, and royalty benchmarking: unsupported adjustments were deleted under consistent accounting and trans...
Whether Regulation 12 limitation bars a statutory provident fund claim: Supreme Court precedent (Rainbow Papers) treats Regulation 12 as directory for statutory dues, so delay alone cannot justify rejection - claim survives. Whether EPF/gratuity constitute assets of the corporate debtor under Section 36(4)(iii): prior tribunal authority held EPF/gratuity are not assets of the corporate debtor, so they cannot be treated as estate assets - claim stands. Whether reopened claims may be barred after CoC approval: Supreme Court jurisprudence cautions against reopening plans to avoid endless CIRP, but that principle does not override the Rainbow Papers ruling; impugned rejection on limitation is quashed and matter is remitted to the Adjudicating Authority to reconsider the application on merits (except as to limitation) - NCLAT
Whether Regulation 12 limitation bars a statutory provident fund claim: Supreme Court precedent (Rainbow Papers) treats Regulation 12 as directory for statutory dues, so delay alone cannot justify rejection - claim survives. Whether EPF/gratuity constitute assets of the corporate debtor under Section 36(4)(iii): prior tribunal authority held EPF/gratuity are not assets of the corporate debtor, so they cannot be treated as estate assets - claim stands. Whether reopened claims may be barred after CoC approval: Supreme Court jurisprudence cautions against reopening plans to avoid endless CIRP, but that principle does not override the Rainbow Papers ruling; impugned rejection on limitation is quashed and matter is remitted to the Adjudicating Authority to reconsider the application on merits (except as to limitation) - NCLAT
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