Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
The NCLAT upheld admission of CIRP and rejected the objection that Tower 5 should be excluded from the Section 7 threshold, holding that the insolvency was initiated for the same real estate project as a whole and that the Adjudicating Authority could examine the total units and applicants accordingly. It held that the IBC moratorium under Section 14 and its overriding effect under Section 238 prevent arbitration or interim orders from obstructing CIRP, and that claims over development rights or termination issues must be considered by the Resolution Professional at the appropriate stage. The Tribunal also held that development rights can form part of the corporate debtor's property under Section 3(27), while the admission order made no conclusive finding on title to Tower 5.
The NCLAT upheld admission of CIRP and rejected the objection that Tower 5 should be excluded from the Section 7 threshold, holding that the insolvency was initiated for the same real estate project as a whole and that the Adjudicating Authority could examine the total units and applicants accordingly. It held that the IBC moratorium under Section 14 and its overriding effect under Section 238 prevent arbitration or interim orders from obstructing CIRP, and that claims over development rights or termination issues must be considered by the Resolution Professional at the appropriate stage. The Tribunal also held that development rights can form part of the corporate debtor's property under Section 3(27), while the admission order made no conclusive finding on title to Tower 5.
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