Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Section 65 of the IBC permits termination of CIRP where initiation is shown to be fraudulent or malicious, but only on specific pleadings and supporting material. The NCLAT held that the provision can be invoked even after a Section 7 admission order attains finality, yet it cannot be used to reopen the earlier finding on debt and default. On the facts, the bank relied on the same assignment-based contention already considered in the Section 7 proceedings, and the record did not show collusion, fraud or malicious intent. The forensic audit direction was also set aside because no such relief had been sought and it was unnecessary once Section 65 relief was refused.
Section 65 of the IBC permits termination of CIRP where initiation is shown to be fraudulent or malicious, but only on specific pleadings and supporting material. The NCLAT held that the provision can be invoked even after a Section 7 admission order attains finality, yet it cannot be used to reopen the earlier finding on debt and default. On the facts, the bank relied on the same assignment-based contention already considered in the Section 7 proceedings, and the record did not show collusion, fraud or malicious intent. The forensic audit direction was also set aside because no such relief had been sought and it was unnecessary once Section 65 relief was refused.
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