Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
The text addresses preferential transactions under insolvency law, emphasizing reliance on a transaction auditor report to identify transfers to related parties and direct restitution under the Code. The Tribunal accepted the transaction auditors methodology and rejected appellants objections as insufficient; consequence: sums received via preferential transactions were ordered repayable. The burden shifted to suspended directors to prove transactions occurred in the ordinary course of business, which they failed to discharge, resulting in upholding of adjudicating authoritys directions. The legal representative status of a deceased proprietor triggered successor liability to the extent of benefits received from the impugned transactions, and the appeal was dismissed.
The text addresses preferential transactions under insolvency law, emphasizing reliance on a transaction auditor report to identify transfers to related parties and direct restitution under the Code. The Tribunal accepted the transaction auditors methodology and rejected appellants objections as insufficient; consequence: sums received via preferential transactions were ordered repayable. The burden shifted to suspended directors to prove transactions occurred in the ordinary course of business, which they failed to discharge, resulting in upholding of adjudicating authoritys directions. The legal representative status of a deceased proprietor triggered successor liability to the extent of benefits received from the impugned transactions, and the appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
