Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Submission of a repayment plan under the personal guarantor insolvency framework is mandatory, and one-time settlement proposals cannot replace it. Because the personal guarantors admittedly failed to submit any repayment plan despite opportunity, the Tribunal treated the plan as deemed rejected and upheld the creditor's move to initiate bankruptcy under the Code. Co-extensive liability under the guarantee deed was recognised, and objections about dues calculation, earlier settlement efforts, and prior SARFAESI or insolvency events did not defeat the bankruptcy process at this stage. The Tribunal affirmed the maintainability of the bankruptcy applications and sustained initiation of proceedings against the guarantors.
Submission of a repayment plan under the personal guarantor insolvency framework is mandatory, and one-time settlement proposals cannot replace it. Because the personal guarantors admittedly failed to submit any repayment plan despite opportunity, the Tribunal treated the plan as deemed rejected and upheld the creditor's move to initiate bankruptcy under the Code. Co-extensive liability under the guarantee deed was recognised, and objections about dues calculation, earlier settlement efforts, and prior SARFAESI or insolvency events did not defeat the bankruptcy process at this stage. The Tribunal affirmed the maintainability of the bankruptcy applications and sustained initiation of proceedings against the guarantors.
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