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...
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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