Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Validity of demand notice based on the order secured by the petitioner from NCLT - Corporate Insolvency Resolution Plan approved by the NCLT which proposed a NIL value against the sales tax dues - The court dismissed the writ petition, holding that the proceedings before NCLT appeared to be staged managed with the intent to defeat the rights of creditors, including the Commercial Tax Department. The court found the process initiated under the IBC to be potentially fraudulent, intended to secure an unjust concession without the actual participation of the affected creditors, notably the Commercial Tax Department.
Validity of demand notice based on the order secured by the petitioner from NCLT - Corporate Insolvency Resolution Plan approved by the NCLT which proposed a NIL value against the sales tax dues - The court dismissed the writ petition, holding that the proceedings before NCLT appeared to be staged managed with the intent to defeat the rights of creditors, including the Commercial Tax Department. The court found the process initiated under the IBC to be potentially fraudulent, intended to secure an unjust concession without the actual participation of the affected creditors, notably the Commercial Tax Department.
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