Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Moratorium under Section 14(1) prevents initiation or continuation of statutory assessment proceedings during CIRP, and assessments completed in the moratorium cannot form admissible CIRP claims; claims founded on such assessments are unenforceable. Claims filed after Committee of Creditors approval of a resolution plan cannot be entertained as time-barred because allowing them would reopen the resolution process. The Resolution Professional did not breach disclosure obligations where EPFO proceedings were not notified within the claim period and were absent from the suspended management's litigation list. Consequent adverse findings against the RP are expunged and the EPFO claim admission set aside.
Moratorium under Section 14(1) prevents initiation or continuation of statutory assessment proceedings during CIRP, and assessments completed in the moratorium cannot form admissible CIRP claims; claims founded on such assessments are unenforceable. Claims filed after Committee of Creditors approval of a resolution plan cannot be entertained as time-barred because allowing them would reopen the resolution process. The Resolution Professional did not breach disclosure obligations where EPFO proceedings were not notified within the claim period and were absent from the suspended management's litigation list. Consequent adverse findings against the RP are expunged and the EPFO claim admission set aside.
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