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 BankruptcyMarch 29, 2024Case LawsAT
Calculation of the liquidator's fee in a corporate insolvency resolution process - The Appellate Tribunal finds that the lower Tribunal erred in not considering the various sales made by the liquidator, which are crucial in determining the amount realized. It emphasizes that both the unamended provision of Regulation 4 and the circular by the IBBI support the appellant's interpretation. Therefore, the Tribunal sets aside the previous order and remands the matter for reconsideration.
Calculation of the liquidator's fee in a corporate insolvency resolution process - The Appellate Tribunal finds that the lower Tribunal erred in not considering the various sales made by the liquidator, which are crucial in determining the amount realized. It emphasizes that both the unamended provision of Regulation 4 and the circular by the IBBI support the appellant's interpretation. Therefore, the Tribunal sets aside the previous order and remands the matter for reconsideration.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
