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...
Insolvency and BankruptcyApril 13, 2024Case LawsAT
Admission of petition under Section 7 of the IBC - initiation of CIRP - Corporate Guarantor - The Tribunal dismissed the claims of forgery, noting the lack of substantial evidence or any legal finding to the contrary. They emphasized the need for allegations of forgery to be established in a competent court, which had not occurred in this instance. - The Tribunal clarified that even past consideration (actions or agreements made before the execution of the guarantee) is sufficient under the law to validate a contract of guarantee. This addressed the concern about the timing of the deeds' execution relative to the disbursement of loans. - Allegations regarding the forged mortgage deeds were similarly set aside.
Admission of petition under Section 7 of the IBC - initiation of CIRP - Corporate Guarantor - The Tribunal dismissed the claims of forgery, noting the lack of substantial evidence or any legal finding to the contrary. They emphasized the need for allegations of forgery to be established in a competent court, which had not occurred in this instance. - The Tribunal clarified that even past consideration (actions or agreements made before the execution of the guarantee) is sufficient under the law to validate a contract of guarantee. This addressed the concern about the timing of the deeds' execution relative to the disbursement of loans. - Allegations regarding the forged mortgage deeds were similarly set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
