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...
Secured creditors' statutory priority in realising dues from secured assets prevails over State tax claims, including claims supported by a State-law first charge or non obstante clause. A State relying on a prior attachment must establish compliance with the prescribed recovery procedure, including public proclamation; an attachment order alone does not sustain the claim. Following enforcement of security interest and completion of a SARFAESI auction, purchasers holding sale certificates may enjoy the property free of State tax encumbrances. "As is where is" auction terms do not permit retention of revenue-record encumbrance entries or pursuit of the asset in the purchaser's hands for State dues.
Secured creditors' statutory priority in realising dues from secured assets prevails over State tax claims, including claims supported by a State-law first charge or non obstante clause. A State relying on a prior attachment must establish compliance with the prescribed recovery procedure, including public proclamation; an attachment order alone does not sustain the claim. Following enforcement of security interest and completion of a SARFAESI auction, purchasers holding sale certificates may enjoy the property free of State tax encumbrances. "As is where is" auction terms do not permit retention of revenue-record encumbrance entries or pursuit of the asset in the purchaser's hands for State dues.
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