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...
Disallowance under the cash-payment restriction was contested for director remuneration; the tribunal examined ledger entries and found no single-day cash payment exceeding the statutory cash threshold because salaries were paid monthly. The legal basis addressed was whether cash disbursements contravened the prohibition on large cash payments to related parties; finding no violation, the tribunal held the disallowance unjustified and allowed the claim in favour of the taxpayer.
Disallowance under the cash-payment restriction was contested for director remuneration; the tribunal examined ledger entries and found no single-day cash payment exceeding the statutory cash threshold because salaries were paid monthly. The legal basis addressed was whether cash disbursements contravened the prohibition on large cash payments to related parties; finding no violation, the tribunal held the disallowance unjustified and allowed the claim in favour of the taxpayer.
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