Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Initiation of the Corporate Insolvency Resolution Process is permissible despite pending Company Court proceedings where statutory timelines for a Scheme of Arrangement were missed; the Rules of 2016 required transfer of unresolved second-motion proceedings to the Tribunal, and a belated unacted application is incompetent and should have been transferred. The Insolvency and Bankruptcy Code prevails over inconsistent provisions of the Companies Act, permitting CIRP priority and appointment and powers of an Interim Resolution Professional during moratorium. A scheme or compromise may still be considered within an IBC proceeding at the appropriate stage; the appellate order was set aside and the Tribunal's CIRP direction restored.
Initiation of the Corporate Insolvency Resolution Process is permissible despite pending Company Court proceedings where statutory timelines for a Scheme of Arrangement were missed; the Rules of 2016 required transfer of unresolved second-motion proceedings to the Tribunal, and a belated unacted application is incompetent and should have been transferred. The Insolvency and Bankruptcy Code prevails over inconsistent provisions of the Companies Act, permitting CIRP priority and appointment and powers of an Interim Resolution Professional during moratorium. A scheme or compromise may still be considered within an IBC proceeding at the appropriate stage; the appellate order was set aside and the Tribunal's CIRP direction restored.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
