Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
Insolvency and BankruptcyAugust 10, 2023Case LawsAT
CIRP - Legality of admitting Section 7 Application - Existence of Financial Debt - Scope of Article of association - Delegation of power to Directors / Borrowing Powers of Directors. - If the Articles, have a provision which ‘prohibited the Directors’, from ‘delegating their power’, to ‘Borrow Monies’, does not prevent them from ‘empowering one of the Directors’, to execute a ‘Mortgage Deed’. - AT
CIRP - Legality of admitting Section 7 Application - Existence of Financial Debt - Scope of Article of association - Delegation of power to Directors / Borrowing Powers of Directors. - If the Articles, have a provision which ‘prohibited the Directors’, from ‘delegating their power’, to ‘Borrow Monies’, does not prevent them from ‘empowering one of the Directors’, to execute a ‘Mortgage Deed’. - AT
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