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...
Section 96(4) of the Insolvency and Bankruptcy Code applies retroactively to pending insolvency applications involving personal guarantors to corporate debtors. The exclusion removes the pre-admission interim moratorium that could otherwise delay recovery proceedings; it affects pending transactions rather than completed transactions. The phrase "is filed" includes applications filed before the amendment's commencement but still pending thereafter. Consequently, the personal guarantor could not rely on an interim moratorium to bar the suit, and the request to reject the plaint on that basis was dismissed.
Section 96(4) of the Insolvency and Bankruptcy Code applies retroactively to pending insolvency applications involving personal guarantors to corporate debtors. The exclusion removes the pre-admission interim moratorium that could otherwise delay recovery proceedings; it affects pending transactions rather than completed transactions. The phrase "is filed" includes applications filed before the amendment's commencement but still pending thereafter. Consequently, the personal guarantor could not rely on an interim moratorium to bar the suit, and the request to reject the plaint on that basis was dismissed.
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