Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
A belated operational creditor claim in CIRP was rejected because the claimant did not supply the breakup and supporting material needed for verification, and the claim could not be matched with the corporate debtor's records. The NCLAT held that the claimant failed to rebut the Resolution Professional's reasons for rejection, including non-response to repeated requests and lack of proof for the asserted interest component. Because the resolution process had already advanced to the stage where the resolution plan was approved by the Committee of Creditors and filed before the Adjudicating Authority, the deficient claim could not be entertained. The rejection was upheld and the appeal dismissed.
A belated operational creditor claim in CIRP was rejected because the claimant did not supply the breakup and supporting material needed for verification, and the claim could not be matched with the corporate debtor's records. The NCLAT held that the claimant failed to rebut the Resolution Professional's reasons for rejection, including non-response to repeated requests and lack of proof for the asserted interest component. Because the resolution process had already advanced to the stage where the resolution plan was approved by the Committee of Creditors and filed before the Adjudicating Authority, the deficient claim could not be entertained. The rejection was upheld and the appeal dismissed.
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