Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
In a suit on a promissory note, the HC noted that untraversed pleadings and the absence of cross-examination meant the plaintiff's case on advance and execution stood admitted, and an adverse finding on lending capacity was perverse where the defendant filed no written statement and the court did not clarify its own doubts by questioning the witness. It further held that a promissory note need not be attested, non-examination of an attestor was not fatal, and breach of the cash-loan prohibition under section 269SS may attract tax consequences but does not make the debt void or unenforceable. The plaintiff's claim was therefore upheld.
In a suit on a promissory note, the HC noted that untraversed pleadings and the absence of cross-examination meant the plaintiff's case on advance and execution stood admitted, and an adverse finding on lending capacity was perverse where the defendant filed no written statement and the court did not clarify its own doubts by questioning the witness. It further held that a promissory note need not be attested, non-examination of an attestor was not fatal, and breach of the cash-loan prohibition under section 269SS may attract tax consequences but does not make the debt void or unenforceable. The plaintiff's claim was therefore upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
