Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Disallowance of bad debts written off - bad debts in respect of subscriptions defaulted by the prized subscribers - The Tribunal found the CIT(A)'s decision well-founded, particularly in light of the specific judicial pronouncements and the ITAT Hyderabad's stance, which had, in principle, allowed the claim of bad debts related to chit funds while remanding the matter for factual verification. Moreover, the Tribunal noted that the relationship between chit fund transactions did not characterize a typical debtor-creditor scenario, aligning with the principles laid out in significant judgments.
Disallowance of bad debts written off - bad debts in respect of subscriptions defaulted by the prized subscribers - The Tribunal found the CIT(A)'s decision well-founded, particularly in light of the specific judicial pronouncements and the ITAT Hyderabad's stance, which had, in principle, allowed the claim of bad debts related to chit funds while remanding the matter for factual verification. Moreover, the Tribunal noted that the relationship between chit fund transactions did not characterize a typical debtor-creditor scenario, aligning with the principles laid out in significant judgments.
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