Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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The Punjab and Haryana High Court addressed the legal right of a Hindu Undivided Family (HUF) to challenge auction proceedings of properties owned by the HUF. The court held that the HUF had the legal standing to challenge the auction, rejecting objections raised by auction purchasers. The court found the auction proceedings null and void due to a fictitious tax demand and invoked the principle of lis pendens. It ruled that no rights were created in favor of auction purchasers who proceeded with knowledge of pending legal proceedings. The court ordered restoration of the properties to the HUF, declaring any subsequent transfers void. Income Tax Authorities were directed to refund auction proceeds with interest and pay costs to the petitioner. The court emphasized the need for a new interpretation of auction laws, citing relevant Supreme Court precedents. The judgment rendered the assessment order and interest demand null and void.
The Punjab and Haryana High Court addressed the legal right of a Hindu Undivided Family (HUF) to challenge auction proceedings of properties owned by the HUF. The court held that the HUF had the legal standing to challenge the auction, rejecting objections raised by auction purchasers. The court found the auction proceedings null and void due to a fictitious tax demand and invoked the principle of lis pendens. It ruled that no rights were created in favor of auction purchasers who proceeded with knowledge of pending legal proceedings. The court ordered restoration of the properties to the HUF, declaring any subsequent transfers void. Income Tax Authorities were directed to refund auction proceeds with interest and pay costs to the petitioner. The court emphasized the need for a new interpretation of auction laws, citing relevant Supreme Court precedents. The judgment rendered the assessment order and interest demand null and void.
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