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...
Exclusion of appellant from the Committee of Creditors (CoC) - The Resolution Professional deemed Rare ARC (appellant) akin to a related party, thus ineligible for CoC participation - assignment of term loan in bad faith - The NCLAT found that the assignment from SEFL to Rare ARC was made under suspicious circumstances, with SEFL still holding a significant interest in the loan through security receipts. Moreover, allegations regarding the funding of the assignment transaction by SIFL and SEFL raised doubts about the bona fide nature of the assignment. Consequently, Rare ARC's appeal was dismissed, affirming its exclusion from the CoC.
Exclusion of appellant from the Committee of Creditors (CoC) - The Resolution Professional deemed Rare ARC (appellant) akin to a related party, thus ineligible for CoC participation - assignment of term loan in bad faith - The NCLAT found that the assignment from SEFL to Rare ARC was made under suspicious circumstances, with SEFL still holding a significant interest in the loan through security receipts. Moreover, allegations regarding the funding of the assignment transaction by SIFL and SEFL raised doubts about the bona fide nature of the assignment. Consequently, Rare ARC's appeal was dismissed, affirming its exclusion from the CoC.
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