Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Pre-existing dispute concerning supply of contaminated goods communicated via agents was found to constitute a notice of dispute under Section 9(5)(ii)(d) and satisfy the Mobilox plausibility threshold; these communications required consideration and could not be dismissed as spurious, so the Section 9 application should have been rejected. The Adjudicating Authority erred in admitting the Section 9 petition and initiating CIRP; the admission and all consequential orders are set aside, the corporate debtor is released from CIRP, a directed interim payment is to be made, and the operational creditor and third parties remain free to pursue other legal remedies.
Pre-existing dispute concerning supply of contaminated goods communicated via agents was found to constitute a notice of dispute under Section 9(5)(ii)(d) and satisfy the Mobilox plausibility threshold; these communications required consideration and could not be dismissed as spurious, so the Section 9 application should have been rejected. The Adjudicating Authority erred in admitting the Section 9 petition and initiating CIRP; the admission and all consequential orders are set aside, the corporate debtor is released from CIRP, a directed interim payment is to be made, and the operational creditor and third parties remain free to pursue other legal remedies.
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