Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Section 32A of the IBC was construed as protecting corporate debtor property only from the statutory trigger point after a qualifying change in control following approval of a resolution plan, and not as retrospectively nullifying a provisional attachment already made before such approval. The Tribunal held that reliance on Section 32A(1) was misplaced because the dispute concerned attachment of property, not prosecution, and that immunity under Section 32A depends on fulfilment of the prescribed conditions, including the status of the incoming person. The prior attachment under PMLA was therefore sustained, and the appeal challenging attachment and confirmation was dismissed.
Section 32A of the IBC was construed as protecting corporate debtor property only from the statutory trigger point after a qualifying change in control following approval of a resolution plan, and not as retrospectively nullifying a provisional attachment already made before such approval. The Tribunal held that reliance on Section 32A(1) was misplaced because the dispute concerned attachment of property, not prosecution, and that immunity under Section 32A depends on fulfilment of the prescribed conditions, including the status of the incoming person. The prior attachment under PMLA was therefore sustained, and the appeal challenging attachment and confirmation was dismissed.
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