Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Fraudulent preference transfers by a company shortly before winding up are void ab initio when designed to defeat creditors; such transfers differ from otherwise bona fide transactions that may be avoidable under a separate provision requiring good faith and valuable consideration. A related-party lease of significant company assets executed immediately prior to the winding-up petition was held sham, not at arm's length, and void from inception; the official liquidator's application to take possession and sell the property for creditor realization should not have been dismissed on limitation grounds. The appellate court allowed the appeal and declared the transfer void.
Fraudulent preference transfers by a company shortly before winding up are void ab initio when designed to defeat creditors; such transfers differ from otherwise bona fide transactions that may be avoidable under a separate provision requiring good faith and valuable consideration. A related-party lease of significant company assets executed immediately prior to the winding-up petition was held sham, not at arm's length, and void from inception; the official liquidator's application to take possession and sell the property for creditor realization should not have been dismissed on limitation grounds. The appellate court allowed the appeal and declared the transfer void.
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