Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Finality of court confirmed auction sales does not bar limited supervisory review where credible doubts arise about adequacy of valuation or fairness in fixing the reserve price; the Court applied the principle that protections for a bona fide auction purchaser are strong but not absolute, permitting remand for reassessment to secure best realisable value of the secured asset. The High Court's confined direction to remit valuation and reserve price circumstances to the DRT was treated as a balanced, legally permissible exercise because it did not set aside the confirmed auction or prejudice recovery already effected. The appeal was dismissed and the remand sustained.
Finality of court confirmed auction sales does not bar limited supervisory review where credible doubts arise about adequacy of valuation or fairness in fixing the reserve price; the Court applied the principle that protections for a bona fide auction purchaser are strong but not absolute, permitting remand for reassessment to secure best realisable value of the secured asset. The High Court's confined direction to remit valuation and reserve price circumstances to the DRT was treated as a balanced, legally permissible exercise because it did not set aside the confirmed auction or prejudice recovery already effected. The appeal was dismissed and the remand sustained.
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