Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
A sanctioned scheme of arrangement assigning specified creditors' claims to the 63 Moons Group was held binding on all specified creditors, including dissenters, because the claims pursued in the civil suits arose from the same NSEL payment default and fell within the scheme. Once the settlement trigger event occurred, those claims, including claims against consenting brokers, stood assigned to the assignee, so the appellants could not continue independent civil proceedings for covered claims. The Tribunal also refused to revisit the scheme's legality, noting that earlier orders upholding it had already attained finality and were affirmed on merits by the Supreme Court. The appeal was dismissed.
A sanctioned scheme of arrangement assigning specified creditors' claims to the 63 Moons Group was held binding on all specified creditors, including dissenters, because the claims pursued in the civil suits arose from the same NSEL payment default and fell within the scheme. Once the settlement trigger event occurred, those claims, including claims against consenting brokers, stood assigned to the assignee, so the appellants could not continue independent civil proceedings for covered claims. The Tribunal also refused to revisit the scheme's legality, noting that earlier orders upholding it had already attained finality and were affirmed on merits by the Supreme Court. The appeal was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
