Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Section 19 of the Insolvency and Bankruptcy Code permits coercive assistance only from the corporate debtor's personnel, promoters, or other persons associated with management, and only where the information sought is shown to be necessary for CIRP purposes and within the recipient's possession. A former statutory auditor, being an independent professional and not ordinarily part of management, could not be compelled on that basis to furnish documents, continue audit work, or issue a no-objection resignation. The directions were also unsustainable because the tribunal had not verified possession of the documents, and the insolvency process had already progressed to approval of a resolution plan and later liquidation, making continued insistence on the information futile. The order was set aside.
Section 19 of the Insolvency and Bankruptcy Code permits coercive assistance only from the corporate debtor's personnel, promoters, or other persons associated with management, and only where the information sought is shown to be necessary for CIRP purposes and within the recipient's possession. A former statutory auditor, being an independent professional and not ordinarily part of management, could not be compelled on that basis to furnish documents, continue audit work, or issue a no-objection resignation. The directions were also unsustainable because the tribunal had not verified possession of the documents, and the insolvency process had already progressed to approval of a resolution plan and later liquidation, making continued insistence on the information futile. The order was set aside.
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