Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
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...
Financial debt requires disbursement against consideration for the time value of money. A real estate allottee may be deemed to have advanced a debt with the commercial effect of borrowing only where the claimant has disbursed an amount to the corporate debtor. Where a flat is allotted solely to compensate unpaid advertisement service charges under an invoice, no such disbursement occurs. The claim therefore does not constitute financial debt, and the service provider cannot be recognised as a financial creditor under the insolvency framework.
Financial debt requires disbursement against consideration for the time value of money. A real estate allottee may be deemed to have advanced a debt with the commercial effect of borrowing only where the claimant has disbursed an amount to the corporate debtor. Where a flat is allotted solely to compensate unpaid advertisement service charges under an invoice, no such disbursement occurs. The claim therefore does not constitute financial debt, and the service provider cannot be recognised as a financial creditor under the insolvency framework.
Note: It is a system-generated summary and is for quick reference only.
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