Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
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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