Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Withdrawal of CIRP before constitution of the CoC had to follow the IBC framework under section 12A and Regulation 30A, with the application made through the IRP and the corporate debtor represented by the IRP after admission of the section 7 petition. The Court noted that notice to the IRP and hearing of the IRP and objecting banks satisfied natural justice, and that the phrase "any person aggrieved" did not expand the class of persons entitled to a separate hearing at the withdrawal stage. It distinguished broader reliance on Glas Trust and found no exceptional breach of natural justice to justify writ intervention, leaving the petitioners to their statutory appeal remedy under the IBC.
Withdrawal of CIRP before constitution of the CoC had to follow the IBC framework under section 12A and Regulation 30A, with the application made through the IRP and the corporate debtor represented by the IRP after admission of the section 7 petition. The Court noted that notice to the IRP and hearing of the IRP and objecting banks satisfied natural justice, and that the phrase "any person aggrieved" did not expand the class of persons entitled to a separate hearing at the withdrawal stage. It distinguished broader reliance on Glas Trust and found no exceptional breach of natural justice to justify writ intervention, leaving the petitioners to their statutory appeal remedy under the IBC.
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