Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
A High Court found that respondent No.3 was fraudulently incorporated with a name strikingly similar to the petitioner corporate debtor, breaching the prohibition on similar names (Section 4(2)(a)) and Rule 8; the court held the difference of a single letter and shared addresses, domain use and replicated letterhead demonstrated bad faith, and cancelled respondent No.3's registration. The court directed respondent No.4 (bank) to remit the account balance of the fraudulently incorporated entity to the petitioner's liquidation account. Directions for inquiry, penalties and compensation against respondent No.1 were reserved with liberty to file additional affidavits.
A High Court found that respondent No.3 was fraudulently incorporated with a name strikingly similar to the petitioner corporate debtor, breaching the prohibition on similar names (Section 4(2)(a)) and Rule 8; the court held the difference of a single letter and shared addresses, domain use and replicated letterhead demonstrated bad faith, and cancelled respondent No.3's registration. The court directed respondent No.4 (bank) to remit the account balance of the fraudulently incorporated entity to the petitioner's liquidation account. Directions for inquiry, penalties and compensation against respondent No.1 were reserved with liberty to file additional affidavits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
