Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
Internal TNMM supports deletion of freight-forwarding adjustments where comparable non-AE transactions are separately identifiable and materially simi...
Adjudicating Authority correctly limited its inquiry to whether default had occurred and found the corporate debtor liable for repayment, thereby admitting the insolvency petition. The tribunal held that persistent refusal to permit stock and book audit and failure to cooperate with creditor-led restructuring efforts demonstrated deliberate non-cooperation; belated consent after takeover by the resolution professional did not excuse prior obstruction, and could not defeat admission. Because the authority considered the material particulars of debt, default date, and conduct relevant to restructuring, initiation of the corporate insolvency resolution process was affirmed and the appeal dismissed.
Adjudicating Authority correctly limited its inquiry to whether default had occurred and found the corporate debtor liable for repayment, thereby admitting the insolvency petition. The tribunal held that persistent refusal to permit stock and book audit and failure to cooperate with creditor-led restructuring efforts demonstrated deliberate non-cooperation; belated consent after takeover by the resolution professional did not excuse prior obstruction, and could not defeat admission. Because the authority considered the material particulars of debt, default date, and conduct relevant to restructuring, initiation of the corporate insolvency resolution process was affirmed and the appeal dismissed.
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TaxTMI 
TaxTMI 
