Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
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A personal guarantor remained liable where he had signed the loan sanction letter as guarantor and executed the guarantee documents, and the debt, default and NPA status were undisputed; a separate deed of guarantee was not necessary, so the challenge to the maintainability of the personal guarantor proceedings failed. The belated plea of duress was rejected because the documents were not timely disputed and the objection arose only after default and insolvency steps began. On the Section 99 issue, the resolution professional's report was held to be recommendatory, so its absence before admission did not invalidate the proceedings where the foundational facts were already established. Admission of the application was upheld.
A personal guarantor remained liable where he had signed the loan sanction letter as guarantor and executed the guarantee documents, and the debt, default and NPA status were undisputed; a separate deed of guarantee was not necessary, so the challenge to the maintainability of the personal guarantor proceedings failed. The belated plea of duress was rejected because the documents were not timely disputed and the objection arose only after default and insolvency steps began. On the Section 99 issue, the resolution professional's report was held to be recommendatory, so its absence before admission did not invalidate the proceedings where the foundational facts were already established. Admission of the application was upheld.
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