Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Belated homebuyer claims reflected in the corporate debtor's records were not defeated by delay where the Resolution Professional showed no notice to the claimants, their registered agreement to sell and allotment details were available in the virtual data room, and the CIRP overlapped substantially with the Covid period; the claim was ordered to be admitted by addendum to the resolution plan. The Tribunal further held that purchasers with a registered agreement and recorded payment history were genuine homebuyers, not speculative investors, and therefore belonged in Category A of the plan. As the rival claimant sought refund with interest on assured-return reservation letters, the appellants were treated as having the superior claim and the impugned order was set aside.
Belated homebuyer claims reflected in the corporate debtor's records were not defeated by delay where the Resolution Professional showed no notice to the claimants, their registered agreement to sell and allotment details were available in the virtual data room, and the CIRP overlapped substantially with the Covid period; the claim was ordered to be admitted by addendum to the resolution plan. The Tribunal further held that purchasers with a registered agreement and recorded payment history were genuine homebuyers, not speculative investors, and therefore belonged in Category A of the plan. As the rival claimant sought refund with interest on assured-return reservation letters, the appellants were treated as having the superior claim and the impugned order was set aside.
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