Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Valuation of security shares was treated as a separate issue and not decided on merits; the tribunal held that rejecting the company petition solely because valuation was to be determined by a parallel forum was impermissible, so the petition must be decided independently on its own merits. Consequently, the impugned order rejecting the petition was quashed and the company petition revived for adjudication. The decision emphasises that valuation proceedings before a debt recovery forum cannot automatically preclude maintainability of an insolvency petition and that parallel-forum directions in prior judgments do not oust independent section-wise adjudication under the insolvency regime.
Valuation of security shares was treated as a separate issue and not decided on merits; the tribunal held that rejecting the company petition solely because valuation was to be determined by a parallel forum was impermissible, so the petition must be decided independently on its own merits. Consequently, the impugned order rejecting the petition was quashed and the company petition revived for adjudication. The decision emphasises that valuation proceedings before a debt recovery forum cannot automatically preclude maintainability of an insolvency petition and that parallel-forum directions in prior judgments do not oust independent section-wise adjudication under the insolvency regime.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
