Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
A continuing personal guarantee remained enforceable despite the guarantor's resignation from the corporate debtor, because the deed expressly made the guarantee continuing, irrevocable and binding on demand. Revocation of a continuing guarantee was treated as operating only for future transactions and requiring notice to the creditor; communications to other consortium members were insufficient. Renewal of credit facilities was held not to amount to novation or a material variance discharging the surety, and liability continued for debt arising under the original loan documents. The challenge based on alleged non-consideration of the guarantor's objections was also rejected.
A continuing personal guarantee remained enforceable despite the guarantor's resignation from the corporate debtor, because the deed expressly made the guarantee continuing, irrevocable and binding on demand. Revocation of a continuing guarantee was treated as operating only for future transactions and requiring notice to the creditor; communications to other consortium members were insufficient. Renewal of credit facilities was held not to amount to novation or a material variance discharging the surety, and liability continued for debt arising under the original loan documents. The challenge based on alleged non-consideration of the guarantor's objections was also rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4798
Join Channel
TaxTMI 
