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...
Insolvency and BankruptcyMarch 30, 2024Case LawsAT
Approval of the Resolution Plan - Requirement of liability of PF and ESI dues to be paid in Full - Claim u/s 7A, 7Q, and 14B of the Employees' Provident Funds & Miscellaneous Provisions Act 1952 - The Tribunal noted that while the amount under Section 7A had been fully paid, no payment had been made towards the amounts claimed under Sections 7Q and 14B. It referred to legal precedents and held that all amounts claimed under Sections 7A, 7Q, and 14B were part of provident fund dues, emphasizing the importance of paying them in full. The Tribunal cited judgments and directed the Successful Resolution Applicant to make the necessary payments under Section 7Q within two months and apply for waiver of damages under Section 14B within 30 days.
Approval of the Resolution Plan - Requirement of liability of PF and ESI dues to be paid in Full - Claim u/s 7A, 7Q, and 14B of the Employees' Provident Funds & Miscellaneous Provisions Act 1952 - The Tribunal noted that while the amount under Section 7A had been fully paid, no payment had been made towards the amounts claimed under Sections 7Q and 14B. It referred to legal precedents and held that all amounts claimed under Sections 7A, 7Q, and 14B were part of provident fund dues, emphasizing the importance of paying them in full. The Tribunal cited judgments and directed the Successful Resolution Applicant to make the necessary payments under Section 7Q within two months and apply for waiver of damages under Section 14B within 30 days.
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