Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Withdrawal of CIRP under Section 12A before constitution of the CoC may be considered through the IRP, with the adjudicating authority examining statutory requirements, settlement terms and CIRP costs, and may also exercise inherent powers under Rule 11. An unadmitted claimant has no crystallised right to participate in or object to the withdrawal merely because a claim has been filed. Applying the Supreme Court's guidance in Glas Trust Company LLC v. BYJU Raveendran, the Appellate Tribunal upheld the withdrawal order as within jurisdiction and in accordance with Section 12A read with Regulation 30A, while leaving the claimant free to pursue other remedies in law.
Withdrawal of CIRP under Section 12A before constitution of the CoC may be considered through the IRP, with the adjudicating authority examining statutory requirements, settlement terms and CIRP costs, and may also exercise inherent powers under Rule 11. An unadmitted claimant has no crystallised right to participate in or object to the withdrawal merely because a claim has been filed. Applying the Supreme Court's guidance in Glas Trust Company LLC v. BYJU Raveendran, the Appellate Tribunal upheld the withdrawal order as within jurisdiction and in accordance with Section 12A read with Regulation 30A, while leaving the claimant free to pursue other remedies in law.
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