Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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...
Conditional votes on a revival scheme cannot be treated as unqualified statutory assent where attached modifications materially affect allottees' contractual and financial rights. Sanction requires the statutory majority to approve the arrangement ultimately placed before the Court, after the legal effect of conditions, informed stakeholder decision-making, fairness to the affected class, adequate disclosure and individual objections have been assessed. Commercial wisdom of the majority applies only once these statutory safeguards are met. The sanction of the revival scheme was set aside and remanded for fresh consideration, including fresh meetings where required.
Conditional votes on a revival scheme cannot be treated as unqualified statutory assent where attached modifications materially affect allottees' contractual and financial rights. Sanction requires the statutory majority to approve the arrangement ultimately placed before the Court, after the legal effect of conditions, informed stakeholder decision-making, fairness to the affected class, adequate disclosure and individual objections have been assessed. Commercial wisdom of the majority applies only once these statutory safeguards are met. The sanction of the revival scheme was set aside and remanded for fresh consideration, including fresh meetings where required.
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