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 BankruptcyFebruary 28, 2024Case LawsAT
Initiation of CIRP u/s 9 - time limitation - threshold limit of amount claimed - With respect to 234 invoices, which are payable within 30 days of the invoices, 224 invoices are ex-facie time barred and the remaining 10 invoices do not meet the threshold of Rs.1,00,00,000/-. - The claim of the Operational Creditor that they were having running account and are covered under Article 1 of the Limitation Act cannot be accepted - The NCLAT dismissed the appeal, ruling that the claims of the operational creditor cannot be accepted due to being either time-barred or not meeting the threshold limit.
Initiation of CIRP u/s 9 - time limitation - threshold limit of amount claimed - With respect to 234 invoices, which are payable within 30 days of the invoices, 224 invoices are ex-facie time barred and the remaining 10 invoices do not meet the threshold of Rs.1,00,00,000/-. - The claim of the Operational Creditor that they were having running account and are covered under Article 1 of the Limitation Act cannot be accepted - The NCLAT dismissed the appeal, ruling that the claims of the operational creditor cannot be accepted due to being either time-barred or not meeting the threshold limit.
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