Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
Section 29A(f) of the Insolvency and Bankruptcy Code applies where there is an operative SEBI order prohibiting a person from accessing the securities market or trading in securities. Because the appellant fell within the class covered by the 26.06.2018 SEBI prohibition, and that order had neither been set aside nor successfully challenged, the Adjudicating Authority was not required to examine its correctness or validity in insolvency proceedings. Authorities on Companies Act disqualification and moratorium-based recovery were inapplicable. The appellant was therefore ineligible to submit a resolution plan, and rejection of the application was upheld.
Section 29A(f) of the Insolvency and Bankruptcy Code applies where there is an operative SEBI order prohibiting a person from accessing the securities market or trading in securities. Because the appellant fell within the class covered by the 26.06.2018 SEBI prohibition, and that order had neither been set aside nor successfully challenged, the Adjudicating Authority was not required to examine its correctness or validity in insolvency proceedings. Authorities on Companies Act disqualification and moratorium-based recovery were inapplicable. The appellant was therefore ineligible to submit a resolution plan, and rejection of the application was upheld.
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