Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
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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