Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
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A civil suit seeking a declaration that personal guarantees stood released remained maintainable because it was filed before any application under Section 95 of the Insolvency and Bankruptcy Code; Section 96 is triggered only on such filing, so a later interim moratorium could at most stay the pending suit for the limited statutory period and not bar it under Order VII Rule 11(d). The court also held that a declaratory suit to establish release from personal guarantees lies within civil jurisdiction, and Section 231 must be construed strictly so as not to oust jurisdiction beyond the Code's specific coverage. Rejection of the plaint was therefore unsustainable and the suit was remanded.
A civil suit seeking a declaration that personal guarantees stood released remained maintainable because it was filed before any application under Section 95 of the Insolvency and Bankruptcy Code; Section 96 is triggered only on such filing, so a later interim moratorium could at most stay the pending suit for the limited statutory period and not bar it under Order VII Rule 11(d). The court also held that a declaratory suit to establish release from personal guarantees lies within civil jurisdiction, and Section 231 must be construed strictly so as not to oust jurisdiction beyond the Code's specific coverage. Rejection of the plaint was therefore unsustainable and the suit was remanded.
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