Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Non-recourse assignment of future rent receivables to financiers constitutes a sale of receivables rather than borrowing where the financier can proceed only against the renter and the assignor bears no repayment obligation. The difference between aggregate future rentals and the consideration received is therefore negotiated sale consideration, not interest under section 2(28A), and accounting treatment cannot alter that legal character. Since no borrowing or interest payment existed, section 194A did not apply; the assessee could not be treated as in default under section 201(1) or charged interest under section 201(1A). The related demands for the assessment years 2018-19 to 2024-25 were deleted.
Non-recourse assignment of future rent receivables to financiers constitutes a sale of receivables rather than borrowing where the financier can proceed only against the renter and the assignor bears no repayment obligation. The difference between aggregate future rentals and the consideration received is therefore negotiated sale consideration, not interest under section 2(28A), and accounting treatment cannot alter that legal character. Since no borrowing or interest payment existed, section 194A did not apply; the assessee could not be treated as in default under section 201(1) or charged interest under section 201(1A). The related demands for the assessment years 2018-19 to 2024-25 were deleted.
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