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...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
While permitting withdrawal of Section 9 Application, Adjudicating Authority did not grant liberty to the Appellant to reapproach the Adjudicating Authority in the event of breach of Memorandum of Understanding - The NCLAT analyzed the terms of the MoU and concluded that it did not preclude the appellant from seeking redress in case of a breach by the corporate debtor. The MoU solely focused on the withdrawal of the Section 9 application, without relinquishing the appellant's rights arising from future contingencies. - The NCLAT partly allowed the appeal, setting aside the adjudicating authority's decision to deny further liberty to the appellant.
While permitting withdrawal of Section 9 Application, Adjudicating Authority did not grant liberty to the Appellant to reapproach the Adjudicating Authority in the event of breach of Memorandum of Understanding - The NCLAT analyzed the terms of the MoU and concluded that it did not preclude the appellant from seeking redress in case of a breach by the corporate debtor. The MoU solely focused on the withdrawal of the Section 9 application, without relinquishing the appellant's rights arising from future contingencies. - The NCLAT partly allowed the appeal, setting aside the adjudicating authority's decision to deny further liberty to the appellant.
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