Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Bonafide purchasers - Auction sale held in favour of appellant - sale challenged on the ground that the Bank had not followed the statutory procedure prescribed under the Security Interest (Enforcement) Rules, 2002 - Issuance and service of mandatory notices to the borrower as required under Rules 8(6) and 8(7). - Despite being bonafide purchasers for value, the court upholds the decision to set aside the sale due to the bank's non-compliance with statutory provisions. The status of the appellants as tenants is restored, allowing the borrower to evict them in accordance with the law.
Bonafide purchasers - Auction sale held in favour of appellant - sale challenged on the ground that the Bank had not followed the statutory procedure prescribed under the Security Interest (Enforcement) Rules, 2002 - Issuance and service of mandatory notices to the borrower as required under Rules 8(6) and 8(7). - Despite being bonafide purchasers for value, the court upholds the decision to set aside the sale due to the bank's non-compliance with statutory provisions. The status of the appellants as tenants is restored, allowing the borrower to evict them in accordance with the law.
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