Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
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...
Insolvency and BankruptcyJanuary 11, 2024Case LawsAT
CIRP - rejection of the claim of the appellant - fraud committed by corporate debtor while executing the "deed of assignment" - The word ‘automatically’ itself empowers the Appellant to put up the claim, declaring that the assignment agreement has been violated by the Appellant by making a false representation that their receivables were not encumbered or charged. The Corporate Debtor has no doubt made the misrepresentation in the deed of assignment which has become evident from the letter of SBI dated 08.06.2017, therefore, finding recorded by the Adjudicating Authority that the termination of the assignment was not valid is neither here nor there. - The RP has committed an error in relying upon Section 21 of the Act, 1996. - AT
CIRP - rejection of the claim of the appellant - fraud committed by corporate debtor while executing the "deed of assignment" - The word ‘automatically’ itself empowers the Appellant to put up the claim, declaring that the assignment agreement has been violated by the Appellant by making a false representation that their receivables were not encumbered or charged. The Corporate Debtor has no doubt made the misrepresentation in the deed of assignment which has become evident from the letter of SBI dated 08.06.2017, therefore, finding recorded by the Adjudicating Authority that the termination of the assignment was not valid is neither here nor there. - The RP has committed an error in relying upon Section 21 of the Act, 1996. - AT
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