Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Court exercised discretionary relief despite expiry of limitation under Section 107 by quashing and remitting the tax order for fresh adjudication on merits. The writ is disposed subject to the petitioner depositing 25% of the disputed tax as a pre-deposit condition for de novo proceedings; bank attachment is ordered to be vacated on compliance and provided no other arrears exist. Amounts already recovered or paid will be verified and set off against the 25% pre-deposit; if recovered amounts exceed 25% no further payment is required. Noncompliance permits respondents to resume recovery as if the writ were dismissed.
Court exercised discretionary relief despite expiry of limitation under Section 107 by quashing and remitting the tax order for fresh adjudication on merits. The writ is disposed subject to the petitioner depositing 25% of the disputed tax as a pre-deposit condition for de novo proceedings; bank attachment is ordered to be vacated on compliance and provided no other arrears exist. Amounts already recovered or paid will be verified and set off against the 25% pre-deposit; if recovered amounts exceed 25% no further payment is required. Noncompliance permits respondents to resume recovery as if the writ were dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
