Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
A pre-existing dispute barred admission of the Section 9 insolvency application where the corporate debtor's reply to the demand notice expressly denied liability and disputed the claim amount, and prior correspondence had already recorded defects, delay and deficient performance. Applying the Mobilox test, the Tribunal held that it was enough that the defence disclosed a plausible dispute requiring further adjudication; the Adjudicating Authority was not to decide the merits of the contractual controversy. The dispute was neither moonshine nor illusory, so insolvency could not be used as a substitute for recovery or contractual adjudication. The rejection of the Section 9 application was therefore affirmed, with liberty to pursue other remedies in law.
A pre-existing dispute barred admission of the Section 9 insolvency application where the corporate debtor's reply to the demand notice expressly denied liability and disputed the claim amount, and prior correspondence had already recorded defects, delay and deficient performance. Applying the Mobilox test, the Tribunal held that it was enough that the defence disclosed a plausible dispute requiring further adjudication; the Adjudicating Authority was not to decide the merits of the contractual controversy. The dispute was neither moonshine nor illusory, so insolvency could not be used as a substitute for recovery or contractual adjudication. The rejection of the Section 9 application was therefore affirmed, with liberty to pursue other remedies in law.
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