Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
A pre-existing dispute under Section 9 of the insolvency framework will bar admission where the debtor's reply raises a real, plausible controversy requiring investigation rather than a feeble or moonshine defence. The Tribunal treated the 15.06.2022 reply as a valid notice of dispute because it referred to internal audit findings, alleged fictitious invoices, missing purchase records, fake vehicle details, and returned goods, all arising before the demand notice. It also rejected reliance on alleged debt acknowledgment and later payment records, and found the subsequent GST assessment relevant in reinforcing the dispute. The Section 9 application was therefore liable to be rejected and the admission order was set aside.
A pre-existing dispute under Section 9 of the insolvency framework will bar admission where the debtor's reply raises a real, plausible controversy requiring investigation rather than a feeble or moonshine defence. The Tribunal treated the 15.06.2022 reply as a valid notice of dispute because it referred to internal audit findings, alleged fictitious invoices, missing purchase records, fake vehicle details, and returned goods, all arising before the demand notice. It also rejected reliance on alleged debt acknowledgment and later payment records, and found the subsequent GST assessment relevant in reinforcing the dispute. The Section 9 application was therefore liable to be rejected and the admission order was set aside.
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