Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
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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