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...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
A resolution plan was rejected because material non-compliances in the CIRP, including inadequate disclosure of avoidance/PUFE transactions, non-transparent handling of those proceedings, and lapses in performance security, undermined the fairness of the process. The Appellate Tribunal held that the Committee of Creditors' commercial wisdom could not cure defects where other applicants were deprived of material information and the plan proceeded on incomplete disclosure. It also upheld adverse findings against the erstwhile resolution professional, noting unsatisfactory explanations for failures in dealing with avoidance applications and security compliance. Both appeals were dismissed, and the direction to investigate the resolution professional's conduct was maintained.
A resolution plan was rejected because material non-compliances in the CIRP, including inadequate disclosure of avoidance/PUFE transactions, non-transparent handling of those proceedings, and lapses in performance security, undermined the fairness of the process. The Appellate Tribunal held that the Committee of Creditors' commercial wisdom could not cure defects where other applicants were deprived of material information and the plan proceeded on incomplete disclosure. It also upheld adverse findings against the erstwhile resolution professional, noting unsatisfactory explanations for failures in dealing with avoidance applications and security compliance. Both appeals were dismissed, and the direction to investigate the resolution professional's conduct was maintained.
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