Capital Gain Deductibility: proportionate IPO and PMS expenses held allowable against capital gains where netting and nexus to transfer are establishe...
Admissibility of Documentary Evidence: appellate authority may admit self explanatory documents on first production and uphold deletion of unexplained...
Crystallisation of statutory liabilities in CIRP requires prior statutory adjudication; claims under the provident fund law that were unadjudicated as on the insolvency commencement date are not crystallised, and their admission by the Resolution Professional for collation does not substitute adjudication, so such claims were excluded from the approved resolution plan. The moratorium prevents initiation or continuation of assessment proceedings affecting the frozen claims, and the approved resolution plan, having met CoC approval and statutory scrutiny, is final and binding; appellate interference was refused and the appeal dismissed.
Crystallisation of statutory liabilities in CIRP requires prior statutory adjudication; claims under the provident fund law that were unadjudicated as on the insolvency commencement date are not crystallised, and their admission by the Resolution Professional for collation does not substitute adjudication, so such claims were excluded from the approved resolution plan. The moratorium prevents initiation or continuation of assessment proceedings affecting the frozen claims, and the approved resolution plan, having met CoC approval and statutory scrutiny, is final and binding; appellate interference was refused and the appeal dismissed.
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