Social forestry expenditure requires activity-based classification, limiting book-profit adjustments and preserving penalty relief where normal additi...
Inaccurate-particulars penalties fail where transfer-pricing documentation shows good faith and due diligence, and underlying capital-gains additions ...
Transfer-pricing tolerance for software sub-licensing falls within the services range, eliminating the adjustment and requiring TDS-credit verificatio...
Fair opportunity to a non-party affected by insolvency proceedings requires consideration of its pending intervention application before final adjudication of the Section 7 company petition. The application under Section 60(5) alleged collusive initiation of insolvency proceedings and asserted potential effects on the applicant's rights and property. In the stated circumstances, judicial fairness required the Tribunal to determine that application first because no compelling urgency justified finalising the insolvency petition while it remained pending. The Tribunal was directed to decide the application within three months, if not already decided, and thereafter determine the insolvency petition on merits.
Fair opportunity to a non-party affected by insolvency proceedings requires consideration of its pending intervention application before final adjudication of the Section 7 company petition. The application under Section 60(5) alleged collusive initiation of insolvency proceedings and asserted potential effects on the applicant's rights and property. In the stated circumstances, judicial fairness required the Tribunal to determine that application first because no compelling urgency justified finalising the insolvency petition while it remained pending. The Tribunal was directed to decide the application within three months, if not already decided, and thereafter determine the insolvency petition on merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
