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...
Restoration of an insolvency application dismissed for non-prosecution can be supported by sufficient cause where former counsel deliberately failed to appear or enable substitution despite a continuing vakalatnama; that default should not be attributed to the litigant. Rule 48(2) of the NCLT Rules prescribes a 30-day restoration period but does not expressly prohibit a later recall request. Section 238A applies the Limitation Act, as far as may be, to insolvency proceedings, allowing Section 5 condonation on sufficient cause. Where the restoration request itself explains the delay, a separate condonation application is unnecessary, permitting merits consideration of the underlying claim.
Restoration of an insolvency application dismissed for non-prosecution can be supported by sufficient cause where former counsel deliberately failed to appear or enable substitution despite a continuing vakalatnama; that default should not be attributed to the litigant. Rule 48(2) of the NCLT Rules prescribes a 30-day restoration period but does not expressly prohibit a later recall request. Section 238A applies the Limitation Act, as far as may be, to insolvency proceedings, allowing Section 5 condonation on sufficient cause. Where the restoration request itself explains the delay, a separate condonation application is unnecessary, permitting merits consideration of the underlying claim.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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