Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Non-participating bidders cannot disturb concluded liquidation sales on speculative prejudice, while costs for such challenges must remain proportiona...
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 
