Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
A Section 9 insolvency petition was held not maintainable because the debt attributable to the corporate debtor alone did not meet the statutory minimum threshold under Section 4. The tribunal found that most invoices related to a sole proprietorship concern, while only a small portion stood in the name of the company. It held that the company and the proprietorship were separate legal entities, so liabilities of the proprietorship could not be aggregated with those of the corporate debtor merely because both were managed by the same person. The dismissal of the petition was therefore upheld.
A Section 9 insolvency petition was held not maintainable because the debt attributable to the corporate debtor alone did not meet the statutory minimum threshold under Section 4. The tribunal found that most invoices related to a sole proprietorship concern, while only a small portion stood in the name of the company. It held that the company and the proprietorship were separate legal entities, so liabilities of the proprietorship could not be aggregated with those of the corporate debtor merely because both were managed by the same person. The dismissal of the petition was therefore upheld.
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