Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
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...
Forfeiture of earnest money in an e-auction required fresh consideration under Section 74 of the Indian Contract Act because the statutory requirements governing contractual forfeiture, including the necessity and quantum of loss, had not been raised or examined. The applicable e-auction terms also required determination of whether the forfeitable amount was 25% or 10% of the successful bid. The High Court set aside the rejection of the refund claim and remitted that issue to the Company Judge after completion of pleadings, leaving the merits of forfeiture open.
Forfeiture of earnest money in an e-auction required fresh consideration under Section 74 of the Indian Contract Act because the statutory requirements governing contractual forfeiture, including the necessity and quantum of loss, had not been raised or examined. The applicable e-auction terms also required determination of whether the forfeitable amount was 25% or 10% of the successful bid. The High Court set aside the rejection of the refund claim and remitted that issue to the Company Judge after completion of pleadings, leaving the merits of forfeiture open.
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