Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
An approved resolution plan under the IBC extinguished all pre-CIRP income-tax dues, including assessed and unassessed claims, and terminated pending assessment or appellate proceedings for the relevant period. Applying the clean slate principle and Supreme Court authority, the HC held that claims not included in the resolution plan could not survive after approval under section 31. Because the reassessment related to a pre-approval assessment year, the subsequent reassessment order and demand notice had no legal basis and were quashed; the merits of the assessment were treated as academic.
An approved resolution plan under the IBC extinguished all pre-CIRP income-tax dues, including assessed and unassessed claims, and terminated pending assessment or appellate proceedings for the relevant period. Applying the clean slate principle and Supreme Court authority, the HC held that claims not included in the resolution plan could not survive after approval under section 31. Because the reassessment related to a pre-approval assessment year, the subsequent reassessment order and demand notice had no legal basis and were quashed; the merits of the assessment were treated as academic.
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