Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
Section 96 of the Insolvency and Bankruptcy Code creates an interim moratorium from the filing of an application under Sections 94 or 95 until admission, staying pending debt proceedings and barring fresh legal action on the debt during that period. A money recovery suit filed while that embargo operated was therefore barred by law and liable to rejection under Order VII Rule 11(d). The later insertion of Section 96(4) did not cure an earlier filing, and lack of knowledge of the insolvency proceedings was immaterial because the bar operated by statute. The plaint could not be split against some defendants on a joint and several liability theory once the statutory prohibition applied.
Section 96 of the Insolvency and Bankruptcy Code creates an interim moratorium from the filing of an application under Sections 94 or 95 until admission, staying pending debt proceedings and barring fresh legal action on the debt during that period. A money recovery suit filed while that embargo operated was therefore barred by law and liable to rejection under Order VII Rule 11(d). The later insertion of Section 96(4) did not cure an earlier filing, and lack of knowledge of the insolvency proceedings was immaterial because the bar operated by statute. The plaint could not be split against some defendants on a joint and several liability theory once the statutory prohibition applied.
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