Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
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Finality of unchallenged personal insolvency resolution orders prevents a personal guarantor from reopening findings at the consequential bankruptcy stage. Where the guarantor was validly proceeded against ex parte in the resolution process, Section 121 does not require fresh prior notice before a bankruptcy order, particularly where the closure application and bankruptcy petition were served. A limitation objection also fails where an earlier SARFAESI demand enforced security interests rather than invoked the guarantee, and the insolvency application was filed within three years of the subsequent Code demand. Separate proceedings against other guarantors remain independent, and new grounds not raised before the Adjudicating Authority cannot ordinarily be introduced in appeal.
Finality of unchallenged personal insolvency resolution orders prevents a personal guarantor from reopening findings at the consequential bankruptcy stage. Where the guarantor was validly proceeded against ex parte in the resolution process, Section 121 does not require fresh prior notice before a bankruptcy order, particularly where the closure application and bankruptcy petition were served. A limitation objection also fails where an earlier SARFAESI demand enforced security interests rather than invoked the guarantee, and the insolvency application was filed within three years of the subsequent Code demand. Separate proceedings against other guarantors remain independent, and new grounds not raised before the Adjudicating Authority cannot ordinarily be introduced in appeal.
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