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...
Information memorandum disclosed the existence of corporation dues and advised prospective resolution applicants to verify such claims; consequence: non-filing despite notice did not negate the disclosed claim. Adjudicating Authority exercised discretion to admit a belatedly filed claim after noting the information memorandum; consequence: admission of the claim was upheld and cannot be interfered with on appeal. Resolution Professional and successful resolution applicant are entitled to submit an addendum to the resolution plan following admission of the claim; consequence: they must take consequential actions to incorporate the admitted claim. Protective effect of insolvency process does not override statutory dues; consequence: statutory claims remain enforceable.
Information memorandum disclosed the existence of corporation dues and advised prospective resolution applicants to verify such claims; consequence: non-filing despite notice did not negate the disclosed claim. Adjudicating Authority exercised discretion to admit a belatedly filed claim after noting the information memorandum; consequence: admission of the claim was upheld and cannot be interfered with on appeal. Resolution Professional and successful resolution applicant are entitled to submit an addendum to the resolution plan following admission of the claim; consequence: they must take consequential actions to incorporate the admitted claim. Protective effect of insolvency process does not override statutory dues; consequence: statutory claims remain enforceable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
