Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
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CIRP-generated surplus cash flow was held not to vest in the successful resolution applicant because the approved resolution plan contained no express provision dealing with that surplus. The Tribunal read clauses 3.9.5, 3.9.8 and 4.1(ii) as covering margin money, fixed deposits and temporary utilisation for foreclosure, but not creating any proprietary right over surplus generated while the corporate debtor remained under the Resolution Professional's control. In the absence of contractual allocation in the plan, the surplus retained its character as part of the insolvency estate and was directed to be distributed under Section 53. That direction was treated as addressing a matter not contemplated by the plan, not as modifying the approved resolution plan.
CIRP-generated surplus cash flow was held not to vest in the successful resolution applicant because the approved resolution plan contained no express provision dealing with that surplus. The Tribunal read clauses 3.9.5, 3.9.8 and 4.1(ii) as covering margin money, fixed deposits and temporary utilisation for foreclosure, but not creating any proprietary right over surplus generated while the corporate debtor remained under the Resolution Professional's control. In the absence of contractual allocation in the plan, the surplus retained its character as part of the insolvency estate and was directed to be distributed under Section 53. That direction was treated as addressing a matter not contemplated by the plan, not as modifying the approved resolution plan.
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