https://www.taxtmi.com/caselaws?id=291648 A home-buyer claim in insolvency was rejected where the registered 2011 agreement and related memorandum showed material inconsistency on consideration and did not satisfactorily prove a genuine home-buyer transaction. The tribunal treated the arrangement as speculative rather than a bona fide allotment, and held that reliance on Form CA under Regulation 8A was not justified on the facts. The claim was also time-barred, because it arose from 2011 transactions with no subsequent acknowledgment or other material extending limitation, and was lodged long after the relevant period. The application was therefore dismissed as inadmissible in the insolvency resolution process. en-us Tue, 31 Dec 2019 00:00:00 +0530 Fri, 20 Nov 2020 12:08:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291648 A home-buyer claim in insolvency was rejected where the registered 2011 agreement and related memorandum showed material inconsistency on consideration and did not satisfactorily prove a genuine home-buyer transaction. The tribunal treated the arrangement as speculative rather than a bona fide allotment, and held that reliance on Form CA under Regulation 8A was not justified on the facts. The claim was also time-barred, because it arose from 2011 transactions with no subsequent acknowledgment or other material extending limitation, and was lodged long after the relevant period. The application was therefore dismissed as inadmissible in the insolvency resolution process. Case-Laws Insolvency and Bankruptcy Tue, 31 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291648