Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Constitutional Validity of Circular - The court examined whether the Circular introduced new legal standards beyond the scope of the IBBI's authority and whether it applied retrospectively, affecting the petitioner's past actions. - The High Court invalidated parts of the Circular that introduced new requirements for the computation of liquidators' fees, marking them as substantive amendments that could not be enacted without following the prescribed legislative process. Conversely, the Court recognized the IBBI's role in clarifying ambiguous aspects of the regulations, thereby facilitating better compliance by insolvency professionals.
Constitutional Validity of Circular - The court examined whether the Circular introduced new legal standards beyond the scope of the IBBI's authority and whether it applied retrospectively, affecting the petitioner's past actions. - The High Court invalidated parts of the Circular that introduced new requirements for the computation of liquidators' fees, marking them as substantive amendments that could not be enacted without following the prescribed legislative process. Conversely, the Court recognized the IBBI's role in clarifying ambiguous aspects of the regulations, thereby facilitating better compliance by insolvency professionals.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
