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...
Tribunal recognised that sums due to workmen from provident, pension and gratuity funds are excluded from the liquidation estate, but held that where the liquidator had already applied all available assets to CIRP costs, liquidation costs and priority payments leaving no remaining assets, the EPFO's application for recovery could not be granted; strict enforcement of the exclusion could not defeat necessary insolvency and liquidation costs. The Tribunal also held that dissolution following completion of liquidation, final distributions and filing of Form H was in accordance with statutory dissolution rules and affirmed the Adjudicating Authority's dissolution order.
Tribunal recognised that sums due to workmen from provident, pension and gratuity funds are excluded from the liquidation estate, but held that where the liquidator had already applied all available assets to CIRP costs, liquidation costs and priority payments leaving no remaining assets, the EPFO's application for recovery could not be granted; strict enforcement of the exclusion could not defeat necessary insolvency and liquidation costs. The Tribunal also held that dissolution following completion of liquidation, final distributions and filing of Form H was in accordance with statutory dissolution rules and affirmed the Adjudicating Authority's dissolution order.
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