Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
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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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