Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
NCLAT held that a Section 65 challenge requires pleadings and material showing fraudulent or malicious initiation of CIRP, and that a grievance over non-issuance of NOC, without more, does not meet that threshold. The homebuyers' complaint was confined to prejudice in obtaining possession and conveyance, but the Tribunal found no cogent material indicating that the Section 7 process was filed for a purpose other than insolvency resolution. As the NOC issue arose after default, it could not invalidate or obstruct the insolvency proceedings. The rejection of the Section 65 application was therefore affirmed and the appeal dismissed.
NCLAT held that a Section 65 challenge requires pleadings and material showing fraudulent or malicious initiation of CIRP, and that a grievance over non-issuance of NOC, without more, does not meet that threshold. The homebuyers' complaint was confined to prejudice in obtaining possession and conveyance, but the Tribunal found no cogent material indicating that the Section 7 process was filed for a purpose other than insolvency resolution. As the NOC issue arose after default, it could not invalidate or obstruct the insolvency proceedings. The rejection of the Section 65 application was therefore affirmed and the appeal dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
