Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Whether the appellant's claim qualified as a "financial debt" under Section 5(8) of the IBC and therefore should have been classified as a financial creditor: the tribunal held that the resolution professional's uploaded List of Creditors treated the appellant as an "other creditor," a classification the appellant did not challenge during CIRP; accordingly the Plan's classification and treatment did not contravene Section 30(2) and warranted no interference - appeal dismissed; appellant remains free to pursue execution of an existing DRT decree against the corporate debtor. - NCLAT
Whether the appellant's claim qualified as a "financial debt" under Section 5(8) of the IBC and therefore should have been classified as a financial creditor: the tribunal held that the resolution professional's uploaded List of Creditors treated the appellant as an "other creditor," a classification the appellant did not challenge during CIRP; accordingly the Plan's classification and treatment did not contravene Section 30(2) and warranted no interference - appeal dismissed; appellant remains free to pursue execution of an existing DRT decree against the corporate debtor. - NCLAT
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