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...
A registered sub-lease deed creating a first charge can constitute a security interest under the Insolvency Code, so NOIDA was not to be treated as an ordinary operational creditor and the resolution plan's distribution had to be reconsidered to that extent. By contrast, the lender's assignee could claim no higher security than the assignor, and its security over a real estate project was confined to unsold inventory because allotments to homebuyers were protected under RERA; the plan payment to the dissenting secured creditor therefore did not breach Sections 30(2)(b) or 53. Objections on valuation and plan comparison fell within the CoC's commercial wisdom, and no material irregularity was shown.
A registered sub-lease deed creating a first charge can constitute a security interest under the Insolvency Code, so NOIDA was not to be treated as an ordinary operational creditor and the resolution plan's distribution had to be reconsidered to that extent. By contrast, the lender's assignee could claim no higher security than the assignor, and its security over a real estate project was confined to unsold inventory because allotments to homebuyers were protected under RERA; the plan payment to the dissenting secured creditor therefore did not breach Sections 30(2)(b) or 53. Objections on valuation and plan comparison fell within the CoC's commercial wisdom, and no material irregularity was shown.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
