Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Approval of a resolution plan that treated specified third-party/guarantor land as assets of the corporate debtor and set aside a fraudulent, undervalued lease deed was upheld; the adjudicatory authoritys prior orders approving the plan and cancelling the lease were held to be final and binding, and consequential directions flowing from those approvals were sustained. Challenges that inclusion of third-party property exceeded the authority or was exclusively a civil remedy were rejected, and the appellate challenge was dismissed for lack of merit, preserving the operative effect of the resolution plan and avoidance of the preferential/fraudulent transaction.
Approval of a resolution plan that treated specified third-party/guarantor land as assets of the corporate debtor and set aside a fraudulent, undervalued lease deed was upheld; the adjudicatory authoritys prior orders approving the plan and cancelling the lease were held to be final and binding, and consequential directions flowing from those approvals were sustained. Challenges that inclusion of third-party property exceeded the authority or was exclusively a civil remedy were rejected, and the appellate challenge was dismissed for lack of merit, preserving the operative effect of the resolution plan and avoidance of the preferential/fraudulent transaction.
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