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...
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.
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