International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Tribunal upheld the Resolution Professional's conduct in not admitting the Income Tax Department's claim during CIRP, finding repeated requests for assessment orders and that the Department delayed filing for admission before the Adjudicating Authority; therefore no irregularity by the RP. Applying the statutory waterfall mechanism to admitted liquidation and plan figures, the Tribunal concluded the plan allocation to the Department exceeded what it would have received pro rata had its claim been admitted, so the Department was not prejudiced in recoverable quantum and the appeal was dismissed.
Tribunal upheld the Resolution Professional's conduct in not admitting the Income Tax Department's claim during CIRP, finding repeated requests for assessment orders and that the Department delayed filing for admission before the Adjudicating Authority; therefore no irregularity by the RP. Applying the statutory waterfall mechanism to admitted liquidation and plan figures, the Tribunal concluded the plan allocation to the Department exceeded what it would have received pro rata had its claim been admitted, so the Department was not prejudiced in recoverable quantum and the appeal was dismissed.
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