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...
Service of a Section 7 petition by e-mail to the corporate debtor's MCA-registered address, together with attempted service at the registered office and newspaper publication, was held to be valid and sufficient; the plea of denial of hearing and breach of natural justice was rejected. The tribunal also held that Section 7 maintainability depends on a financial debt and default above the prescribed threshold, and that default in payment of interest forming part of the financial debt is enough to sustain admission. A one-time settlement was treated as a conditional arrangement, and its breach revived liability under the original loan; later payments were to be adjusted against the original dues. The admission order was upheld and the appeal dismissed.
Service of a Section 7 petition by e-mail to the corporate debtor's MCA-registered address, together with attempted service at the registered office and newspaper publication, was held to be valid and sufficient; the plea of denial of hearing and breach of natural justice was rejected. The tribunal also held that Section 7 maintainability depends on a financial debt and default above the prescribed threshold, and that default in payment of interest forming part of the financial debt is enough to sustain admission. A one-time settlement was treated as a conditional arrangement, and its breach revived liability under the original loan; later payments were to be adjusted against the original dues. The admission order was upheld and the appeal dismissed.
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