Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
The NCLAT upheld approval of the resolution plan, applying limited judicial review and the CoC's commercial wisdom because no breach of Section 30(2) or material procedural irregularity was shown. Objections on CIRP costs failed since the plan treated unpaid costs as payable at actuals and, in any event, the issue had become academic after implementation. The EPF treatment was sustained because the plan set aside funds from secured creditors' share for a contingent statutory liability, causing no prejudice to the dissenting creditor. The extension of the e-voting window, clarificatory communications, and rejection of a Swiss Challenge were also held permissible, and the appeals were dismissed.
The NCLAT upheld approval of the resolution plan, applying limited judicial review and the CoC's commercial wisdom because no breach of Section 30(2) or material procedural irregularity was shown. Objections on CIRP costs failed since the plan treated unpaid costs as payable at actuals and, in any event, the issue had become academic after implementation. The EPF treatment was sustained because the plan set aside funds from secured creditors' share for a contingent statutory liability, causing no prejudice to the dissenting creditor. The extension of the e-voting window, clarificatory communications, and rejection of a Swiss Challenge were also held permissible, and the appeals were dismissed.
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