Deductibility for charitable donations affirmed where payments to approved relief funds, even if CSR-driven, qualify under the donation deduction sche...
Mis-declaration in import descriptions must be deliberate to justify confiscation; withheld contemporaneous import documents invalidate value redeterm...
Liability for EPCG export shortfall: duty and interest sustained, but confiscation and penalties quashed where no fraud and causes beyond importer con...
In real estate insolvency, where the Section 7 applicants were allottees of one project and the alleged default related only to that project, the NCLAT held that the CIRP should proceed on a project-specific basis. The admission order was modified to confine the insolvency process to Krishna Housing Scheme, since extending it to other projects would prejudice separate homebuyers and stakeholders. The Tribunal further held that claims in the CIRP must also be limited to that project, while the IRP/RP may process claims under the CIRP Regulations and need not adjudicate individual creditor disputes at this stage. Creditors and financial institutions linked to other projects were left free to pursue independent remedies.
In real estate insolvency, where the Section 7 applicants were allottees of one project and the alleged default related only to that project, the NCLAT held that the CIRP should proceed on a project-specific basis. The admission order was modified to confine the insolvency process to Krishna Housing Scheme, since extending it to other projects would prejudice separate homebuyers and stakeholders. The Tribunal further held that claims in the CIRP must also be limited to that project, while the IRP/RP may process claims under the CIRP Regulations and need not adjudicate individual creditor disputes at this stage. Creditors and financial institutions linked to other projects were left free to pursue independent remedies.
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