Related-party creditor exclusion bars CoC participation where lender rights show policy-making involvement, and post-CIRP assignment cannot cure ineli...
Rectification of apparent typographical errors may proceed without hearing when tax liability, input tax credit, and ruling substance remain unchanged...
Compliance with an operative interim judicial direction requiring a bank not to treat foreign-leg Leave Fare Concession reimbursements as employee income for tax deduction purposes precluded default treatment for the relevant payments. A later determination that such reimbursements were substantively taxable for another assessment year could not retrospectively transform compliance with that binding direction into a failure to deduct tax under section 201(1). Consequently, interest under section 201(1A), which depended on the alleged default, was unsustainable.
Compliance with an operative interim judicial direction requiring a bank not to treat foreign-leg Leave Fare Concession reimbursements as employee income for tax deduction purposes precluded default treatment for the relevant payments. A later determination that such reimbursements were substantively taxable for another assessment year could not retrospectively transform compliance with that binding direction into a failure to deduct tax under section 201(1). Consequently, interest under section 201(1A), which depended on the alleged default, was unsustainable.
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TaxTMI 
TaxTMI 
