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 BankruptcyApril 16, 2024Case LawsHC
CIRP - Partnership Form - The court examined the definitions under the IBC and noted that it does not include partnership firms or their directors as corporate debtors. Rather, such cases fall under Part III of the IBC, which designates the Debts Recovery Tribunal as the adjudicating authority. The court highlighted amendments to the IBC regarding personal guarantors, specifying that they come under the Code's ambit. However, this addition did not extend to partnership firms or directors.
CIRP - Partnership Form - The court examined the definitions under the IBC and noted that it does not include partnership firms or their directors as corporate debtors. Rather, such cases fall under Part III of the IBC, which designates the Debts Recovery Tribunal as the adjudicating authority. The court highlighted amendments to the IBC regarding personal guarantors, specifying that they come under the Code's ambit. However, this addition did not extend to partnership firms or directors.
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