Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Transfer of pending application for winding up of the respondent company to the NCLT under IBC - The decision reflects the principle that winding up petitions pending before High Courts, which have not progressed to an advanced stage, should be transferred to the NCLT, in line with the Insolvency and Bankruptcy Code, 2016 and the Companies Act, 2013. The Supreme Court's judgment in Action Ispat and Power Limited v. Shyam Metalics and Energy Limited was cited, emphasizing that winding up proceedings at a pre-admission stage or those where no irreversible actions (like the sale of assets) have occurred are compulsorily transferable to the NCLT. - HC
Transfer of pending application for winding up of the respondent company to the NCLT under IBC - The decision reflects the principle that winding up petitions pending before High Courts, which have not progressed to an advanced stage, should be transferred to the NCLT, in line with the Insolvency and Bankruptcy Code, 2016 and the Companies Act, 2013. The Supreme Court's judgment in Action Ispat and Power Limited v. Shyam Metalics and Energy Limited was cited, emphasizing that winding up proceedings at a pre-admission stage or those where no irreversible actions (like the sale of assets) have occurred are compulsorily transferable to the NCLT. - HC
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