Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Belated claims in CIRP cannot be reopened after CoC approval merely because plan approval by the Adjudicating Authority is pending, and refusal to condone delay was upheld where the claimant was a commercial entity and its claim was not reflected in the corporate debtor's records. The SARFAESI sale certificate preserved liability only for encumbrances expressly listed in Annexure 1, so no enforceable liability survived in favour of a claimant whose name was absent from that list. An allotment of units made in adjustment of legal fees, without any disbursement by the claimant, did not satisfy the requirement of disbursement against consideration for the time value of money and was not financial debt.
Belated claims in CIRP cannot be reopened after CoC approval merely because plan approval by the Adjudicating Authority is pending, and refusal to condone delay was upheld where the claimant was a commercial entity and its claim was not reflected in the corporate debtor's records. The SARFAESI sale certificate preserved liability only for encumbrances expressly listed in Annexure 1, so no enforceable liability survived in favour of a claimant whose name was absent from that list. An allotment of units made in adjustment of legal fees, without any disbursement by the claimant, did not satisfy the requirement of disbursement against consideration for the time value of money and was not financial debt.
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