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...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Pre-existing dispute over operational debt prevents Section 9 insolvency admission where contemporaneous correspondence and draft settlement material show a plausible, non-spurious contractual dispute. The Tribunal applied the Mobilox test and held that the Adjudicating Authority must only ask whether the defence raises a contention needing further investigation; it cannot decide merits or require prior civil, arbitral or debit-note proceedings as a condition for dispute. Disputed credits, work-completion certificates and settlement documents were treated as matters for fuller adjudication, and the order admitting CIRP was set aside.
Pre-existing dispute over operational debt prevents Section 9 insolvency admission where contemporaneous correspondence and draft settlement material show a plausible, non-spurious contractual dispute. The Tribunal applied the Mobilox test and held that the Adjudicating Authority must only ask whether the defence raises a contention needing further investigation; it cannot decide merits or require prior civil, arbitral or debit-note proceedings as a condition for dispute. Disputed credits, work-completion certificates and settlement documents were treated as matters for fuller adjudication, and the order admitting CIRP was set aside.
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