Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
A personal guarantor's Section 94 application, filed after an e-auction had been held and confirmed under SARFAESI, was found to be a non-bona fide attempt to delay recovery rather than a genuine insolvency resolution step. The Tribunal held that the filing was an abuse of process because the bank had already enforced its security rights and the guarantor had also pursued a separate challenge before the DRT, which was the appropriate remedy. The rejection of the applications was therefore upheld, and the appellant was left to continue contesting the auction before the DRT.
A personal guarantor's Section 94 application, filed after an e-auction had been held and confirmed under SARFAESI, was found to be a non-bona fide attempt to delay recovery rather than a genuine insolvency resolution step. The Tribunal held that the filing was an abuse of process because the bank had already enforced its security rights and the guarantor had also pursued a separate challenge before the DRT, which was the appropriate remedy. The rejection of the applications was therefore upheld, and the appellant was left to continue contesting the auction before the DRT.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
