Disallowance under tax law for investment expenses cannot be applied mechanically; authority must record clear reasons before increasing assessee's su...
Unauthorised dispositions during moratorium are void and any money received affecting the liquidation estate must be restored; the Liquidator alone held authority to deal with estate assets once CIRP commenced and liquidation commenced, so the Agreement to Sell dated 13.12.2019 and receipt of funds by related parties were examined for restitution. Belated criminal allegations of forgery and post order complaints do not defeat statutory restorative relief; a subsequent accounting entry claiming an unsecured loan, without supporting documents, cannot override contemporaneous facts linking payment to the sale agreement. The Adjudicating Authority's order directing deposit of the sum into the liquidation estate was upheld.
Unauthorised dispositions during moratorium are void and any money received affecting the liquidation estate must be restored; the Liquidator alone held authority to deal with estate assets once CIRP commenced and liquidation commenced, so the Agreement to Sell dated 13.12.2019 and receipt of funds by related parties were examined for restitution. Belated criminal allegations of forgery and post order complaints do not defeat statutory restorative relief; a subsequent accounting entry claiming an unsecured loan, without supporting documents, cannot override contemporaneous facts linking payment to the sale agreement. The Adjudicating Authority's order directing deposit of the sum into the liquidation estate was upheld.
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