Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
Initiation of CIRP was upheld because unsecured loans were actually disbursed to the corporate debtor, obliging the Adjudicating Authority to admit the Section 7 petition; the appeal that initiation was illegal was rejected. Related party or subsidiary links did not bar the financial creditors from lending, so related party status did not vitiate claims and the challenge to liquidation and e auctions failed. The Committee of Creditors' commercial wisdom and the Adjudicating Authority's evaluation under the Code were treated as non justiciable and final, so liquidation steps and waterfall distribution were sustained. Exorbitant interest was disallowed though principal liability remained enforceable.
Initiation of CIRP was upheld because unsecured loans were actually disbursed to the corporate debtor, obliging the Adjudicating Authority to admit the Section 7 petition; the appeal that initiation was illegal was rejected. Related party or subsidiary links did not bar the financial creditors from lending, so related party status did not vitiate claims and the challenge to liquidation and e auctions failed. The Committee of Creditors' commercial wisdom and the Adjudicating Authority's evaluation under the Code were treated as non justiciable and final, so liquidation steps and waterfall distribution were sustained. Exorbitant interest was disallowed though principal liability remained enforceable.
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