Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
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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