Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Approved resolution plans under the IBC extinguish pre-CIRP tax demands, and belated claims cannot be enforced against the corporate debtor once the plan is sanctioned on a clean-slate basis. Applying that principle, the High Court directed the Revenue to give effect to the NCLT-approved plan, delete all pre-resolution-plan demands from the Income Tax Portal, recompute the petitioner's liability or refund, and issue any consequential refund within the stipulated time.
Approved resolution plans under the IBC extinguish pre-CIRP tax demands, and belated claims cannot be enforced against the corporate debtor once the plan is sanctioned on a clean-slate basis. Applying that principle, the High Court directed the Revenue to give effect to the NCLT-approved plan, delete all pre-resolution-plan demands from the Income Tax Portal, recompute the petitioner's liability or refund, and issue any consequential refund within the stipulated time.
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