Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Insolvency and BankruptcySeptember 8, 2022Case LawsSC
Initiation of CIRP - Corporate Guarantor being a Company - The Company stood guarantor for the loans availed by the three borrowers which are partnership firm and / or proprietary concerns - the liability of the guarantor is co-extensive with that of the Principal Borrower - It was open to the Financial Creditor to proceed against the guarantor without first suing the Principal Borrower - SC
Initiation of CIRP - Corporate Guarantor being a Company - The Company stood guarantor for the loans availed by the three borrowers which are partnership firm and / or proprietary concerns - the liability of the guarantor is co-extensive with that of the Principal Borrower - It was open to the Financial Creditor to proceed against the guarantor without first suing the Principal Borrower - SC
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