Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
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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