Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Self-assessed import entries remain appealable, while bona fide classification disputes without misdeclaration cannot justify confiscation or penaltie...
Actual-user customs exemption conditions permit turnkey project transfers when imported windmill components are exclusively used for installation and ...
Customs offence disqualification excludes civil contraventions, preventing refusal of a private bonded warehouse licence based solely on monetary pena...
SARFAESI Act applies to live, outstanding secured loan accounts assigned by a non-notified non-banking financial company to a bank already covered by the Act. The original lender's status when the loan was granted does not prevent the assignee bank from enforcing the acquired non-performing secured debt; on assignment, the account acquires the attributes of secured debt under the Act. The bank may therefore invoke SARFAESI measures, including seeking physical possession. Where a threshold challenge to such recourse succeeds without examination of other factual and legal objections, the securitisation application should be restored to the Tribunal for merits adjudication, subject to any directed deposit without prejudice to rights.
SARFAESI Act applies to live, outstanding secured loan accounts assigned by a non-notified non-banking financial company to a bank already covered by the Act. The original lender's status when the loan was granted does not prevent the assignee bank from enforcing the acquired non-performing secured debt; on assignment, the account acquires the attributes of secured debt under the Act. The bank may therefore invoke SARFAESI measures, including seeking physical possession. Where a threshold challenge to such recourse succeeds without examination of other factual and legal objections, the securitisation application should be restored to the Tribunal for merits adjudication, subject to any directed deposit without prejudice to rights.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
