Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
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Transfer of pending winding up proceedings under the statutory transfer scheme can be ordered even without a party application, because Section 434(1)(c) requires assessment of the stage of liquidation and whether it has become irreversible or irretrievable. On the facts, only possession of assets had been taken and the immovable properties remained unsold, so liquidation had not crossed that stage. The transfer order was therefore a valid exercise of jurisdiction and the challenge failed.
Transfer of pending winding up proceedings under the statutory transfer scheme can be ordered even without a party application, because Section 434(1)(c) requires assessment of the stage of liquidation and whether it has become irreversible or irretrievable. On the facts, only possession of assets had been taken and the immovable properties remained unsold, so liquidation had not crossed that stage. The transfer order was therefore a valid exercise of jurisdiction and the challenge failed.
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