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...
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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