Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
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In liquidation, a guarantor or assignee can claim as a secured creditor only to the extent it proves payment of the discharged debt and its subrogation into the original creditor's shoes; without documentary proof of full discharge, the claim remains limited to the amount actually paid. An assignment supported by a registered charge was treated as covering the secured debt itself, not merely the value of the hypothecated machinery, and computation issues such as exchange-rate conversion were left to the Chartered Accountant's report. Allegations that the assignment was fraudulent were not accepted on the facts stated.
In liquidation, a guarantor or assignee can claim as a secured creditor only to the extent it proves payment of the discharged debt and its subrogation into the original creditor's shoes; without documentary proof of full discharge, the claim remains limited to the amount actually paid. An assignment supported by a registered charge was treated as covering the secured debt itself, not merely the value of the hypothecated machinery, and computation issues such as exchange-rate conversion were left to the Chartered Accountant's report. Allegations that the assignment was fraudulent were not accepted on the facts stated.
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