Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
Page of 4807
Press 'Enter' after typing page number.
4401 to 4420 of 96136 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Approval of a resolution plan under Section 31(1) of the IBC renders the plan binding and extinguishes claims not included in it, so an unresolved counterclaim cannot be pursued for affirmative relief after CIRP. However, reading paragraph 12.4.1 of the plan, the Court found no express or implied bar on a defensive plea of set-off, applying expressio unius est exclusio alterius to reject a broader exclusion. The respondent may therefore rely on set-off only to reduce or defeat the appellant's claim, without any positive recovery or surplus amount, and the ruling is confined to the wording of the plan and the facts stated.
Approval of a resolution plan under Section 31(1) of the IBC renders the plan binding and extinguishes claims not included in it, so an unresolved counterclaim cannot be pursued for affirmative relief after CIRP. However, reading paragraph 12.4.1 of the plan, the Court found no express or implied bar on a defensive plea of set-off, applying expressio unius est exclusio alterius to reject a broader exclusion. The respondent may therefore rely on set-off only to reduce or defeat the appellant's claim, without any positive recovery or surplus amount, and the ruling is confined to the wording of the plan and the facts stated.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4807
Join Channel
TaxTMI 
