Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
NCLAT-related commentary records that the corporate insolvency resolution process will be closed because the promoter will fund project completion under the supervision of the insolvency resolution professional; a status report and an NOC were placed on record. The note records admission of a Section 7 application context and grants liberty to requisite allottees to initiate fresh proceedings if causes exist. The IRP is to be paid fees and reasonable expenses by the corporate debtor. The appeals are recorded as disposed in light of these operative steps.
NCLAT-related commentary records that the corporate insolvency resolution process will be closed because the promoter will fund project completion under the supervision of the insolvency resolution professional; a status report and an NOC were placed on record. The note records admission of a Section 7 application context and grants liberty to requisite allottees to initiate fresh proceedings if causes exist. The IRP is to be paid fees and reasonable expenses by the corporate debtor. The appeals are recorded as disposed in light of these operative steps.
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