Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
Pre-existing disputes and timing of default were decisive: contemporaneous communications and invoices showed plausible disputes on invoices, taxes and reconciliations requiring investigation, and applying the Mobilox and Sabarmati plausibility standard the insolvency petition was not maintainable on that ground. Separately, the contract stipulated default accrual only after a 365-day period from amount becoming due, making the demand notice prima facie premature as no default had occurred on the notice date. The adjudicating authority's rejection of the petition was therefore upheld.
Pre-existing disputes and timing of default were decisive: contemporaneous communications and invoices showed plausible disputes on invoices, taxes and reconciliations requiring investigation, and applying the Mobilox and Sabarmati plausibility standard the insolvency petition was not maintainable on that ground. Separately, the contract stipulated default accrual only after a 365-day period from amount becoming due, making the demand notice prima facie premature as no default had occurred on the notice date. The adjudicating authority's rejection of the petition was therefore upheld.
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