Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
NCLAT upheld rejection of a society's belated claim in CIRP, holding that it had prior knowledge of the insolvency process, was called upon to file its claim, and had itself recorded that its dispute with the developer was fully and finally settled. In light of the approved resolution plan and the principles in RPS Infrastructure and Essar Steel, the Tribunal held that a delayed claim could not be entertained to reopen the CIRP after CoC approval. The later plea of breach of settlement was treated as an afterthought. As no independent infirmity remained in the resolution plan approval, the Tribunal declined appellate interference and left the plan undisturbed.
NCLAT upheld rejection of a society's belated claim in CIRP, holding that it had prior knowledge of the insolvency process, was called upon to file its claim, and had itself recorded that its dispute with the developer was fully and finally settled. In light of the approved resolution plan and the principles in RPS Infrastructure and Essar Steel, the Tribunal held that a delayed claim could not be entertained to reopen the CIRP after CoC approval. The later plea of breach of settlement was treated as an afterthought. As no independent infirmity remained in the resolution plan approval, the Tribunal declined appellate interference and left the plan undisturbed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
