Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Remuneration payable to an IRP forms part of CIRP costs and is not excluded from judicial scrutiny merely because the CoC acts within commercial wisdom; fee fixation still requires examination of the factual basis, work performed and governing arrangement. However, on a reading of the first CoC meeting agenda, minutes and resolutions, the approved IRP remuneration was a consolidated amount, while monthly remuneration was linked to appointment as RP, which was rejected. The IRP had no vested right to continue, the replacement delay did not convert the fee into a monthly entitlement, and the later minimum-fee prescription was inapplicable. The fixed remuneration and expenses were upheld, and the claim for monthly remuneration for the entire tenure failed.
Remuneration payable to an IRP forms part of CIRP costs and is not excluded from judicial scrutiny merely because the CoC acts within commercial wisdom; fee fixation still requires examination of the factual basis, work performed and governing arrangement. However, on a reading of the first CoC meeting agenda, minutes and resolutions, the approved IRP remuneration was a consolidated amount, while monthly remuneration was linked to appointment as RP, which was rejected. The IRP had no vested right to continue, the replacement delay did not convert the fee into a monthly entitlement, and the later minimum-fee prescription was inapplicable. The fixed remuneration and expenses were upheld, and the claim for monthly remuneration for the entire tenure failed.
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