Reopening of assessment cannot rest solely on an audit party's opinion; reassessment under Section 147/148 is impermissible and power of revision shou...
Tested party selection: functional analysis identified the least complex unit as the appropriate tested party, altering the transfer pricing adjustmen...
An approved resolution plan has binding effect to extinguish admitted debt and related securities, preventing dissenting financial creditors from continuing enforcement or recovery; where the plan resolves the claim, pre-existing attachments and third party securities cease to provide a basis for recovery. The tribunal found that attachments under the Maharashtra Cooperative Societies Act made to recover dues consequent to the financial creditor's claim are released by the plan's operative clause and cannot be relied upon post approval. Repeated objections by a dissenting creditor were held untenable in light of earlier appellate finality; the appeal was allowed, restraining further enforcement contrary to the plan.
An approved resolution plan has binding effect to extinguish admitted debt and related securities, preventing dissenting financial creditors from continuing enforcement or recovery; where the plan resolves the claim, pre-existing attachments and third party securities cease to provide a basis for recovery. The tribunal found that attachments under the Maharashtra Cooperative Societies Act made to recover dues consequent to the financial creditor's claim are released by the plan's operative clause and cannot be relied upon post approval. Repeated objections by a dissenting creditor were held untenable in light of earlier appellate finality; the appeal was allowed, restraining further enforcement contrary to the plan.
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