Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Interference with an approved resolution plan under the Insolvency and Bankruptcy Code is confined to patent illegality, material irregularity, violation of mandatory law, or perversity, and a completed insolvency process cannot be reopened for mere dissatisfaction with claim treatment. The appellant's claim remained disputed and contingent throughout verification because of reciprocal contractual claims and counter-claims, so there was no admitted operational debt and no basis for invoking notice rights under Section 24(3)(c). Allegations of fraud, suppression, and procedural impropriety were unsupported, and the appellant showed no material prejudice affecting the resolution outcome. The appeal was dismissed, and the approved and implemented plan was left undisturbed.
Interference with an approved resolution plan under the Insolvency and Bankruptcy Code is confined to patent illegality, material irregularity, violation of mandatory law, or perversity, and a completed insolvency process cannot be reopened for mere dissatisfaction with claim treatment. The appellant's claim remained disputed and contingent throughout verification because of reciprocal contractual claims and counter-claims, so there was no admitted operational debt and no basis for invoking notice rights under Section 24(3)(c). Allegations of fraud, suppression, and procedural impropriety were unsupported, and the appellant showed no material prejudice affecting the resolution outcome. The appeal was dismissed, and the approved and implemented plan was left undisturbed.
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