https://www.taxtmi.com/caselaws?id=440499 The Tribunal upheld the Adjudicating Authority's decision that certain transactions between the Appellant and the Corporate Debtor were undervalued and directed the Appellant to pay Rs. 31,00,475.00. The discounts given were deemed not in the ordinary course of business, falling under 'avoidable transactions' as per the Insolvency and Bankruptcy Code. The Tribunal found the Corporate Debtor's ledger documenting the discounts to be reliable, while the Appellant failed to provide sufficient evidence that the discounts were customary. The appeal was dismissed, and the Appellant was ordered to make the payment to the Corporate Debtor. en-us Wed, 19 Jul 2023 00:00:00 +0530 Wed, 19 Jul 2023 21:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440499 The Tribunal upheld the Adjudicating Authority's decision that certain transactions between the Appellant and the Corporate Debtor were undervalued and directed the Appellant to pay Rs. 31,00,475.00. The discounts given were deemed not in the ordinary course of business, falling under 'avoidable transactions' as per the Insolvency and Bankruptcy Code. The Tribunal found the Corporate Debtor's ledger documenting the discounts to be reliable, while the Appellant failed to provide sufficient evidence that the discounts were customary. The appeal was dismissed, and the Appellant was ordered to make the payment to the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Wed, 19 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440499