Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Section 10A bars CIRP for defaults arising during its protected period. A cash-credit default requires non-payment of a debt that is legally due and presently payable; deferred interest recovery and the absence of a demand under an on-demand facility may prevent an actionable default. For an ad hoc cash-credit facility, a repayment period running from the date of availment excludes that first day, so default arises only after the period expires. Amendment of a Section 7 application may be permitted, but a substituted default date must be supported by pleaded facts and evidence, particularly where Section 10A permanently affects maintainability.
Section 10A bars CIRP for defaults arising during its protected period. A cash-credit default requires non-payment of a debt that is legally due and presently payable; deferred interest recovery and the absence of a demand under an on-demand facility may prevent an actionable default. For an ad hoc cash-credit facility, a repayment period running from the date of availment excludes that first day, so default arises only after the period expires. Amendment of a Section 7 application may be permitted, but a substituted default date must be supported by pleaded facts and evidence, particularly where Section 10A permanently affects maintainability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
