Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
A post-submission addendum that sought to improve the financial proposal and scoring under the evaluation matrix was treated as an impermissible modification of a final resolution plan, so the CoC validly rejected it. The Tribunal held that commercial wisdom governed evaluation of competing plans, the process note did not require acceptance of the highest NPV or highest score, and the RP's email did not amount to material irregularity. It further held that the approved resolution plan met the Code and CIRP Regulations, leaving no permissible ground for judicial interference with the CoC's decision or the approval order.
A post-submission addendum that sought to improve the financial proposal and scoring under the evaluation matrix was treated as an impermissible modification of a final resolution plan, so the CoC validly rejected it. The Tribunal held that commercial wisdom governed evaluation of competing plans, the process note did not require acceptance of the highest NPV or highest score, and the RP's email did not amount to material irregularity. It further held that the approved resolution plan met the Code and CIRP Regulations, leaving no permissible ground for judicial interference with the CoC's decision or the approval order.
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