Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The High Court held ex-directors guilty of fraudulent concealment and misappropriation u/s 433(e) and 435 of the Companies Act, 1956. They failed to disclose sale consideration in company accounts. Third-party rights existed before winding-up. No collusion found. Ex-directors ordered to pay Rs. 3,60,000 with 12% penal interest to Official Liquidator within 30 days. Application disposed of.
The High Court held ex-directors guilty of fraudulent concealment and misappropriation u/s 433(e) and 435 of the Companies Act, 1956. They failed to disclose sale consideration in company accounts. Third-party rights existed before winding-up. No collusion found. Ex-directors ordered to pay Rs. 3,60,000 with 12% penal interest to Official Liquidator within 30 days. Application disposed of.
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