Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
Administrative fraud classification suspension does not halt independent criminal investigation or warrant-based searches into alleged economic offenc...
Doctrine of necessity invoked to grant opportunity to deposit balance amount into liquidation account to avoid liquidation and enable Corporate Debtor to revive as going concern. Section 60(5) of Insolvency and Bankruptcy Code, 2016 empowers Tribunal to pass appropriate order to meet Code's objective despite contrary provisions. Appellant granted last chance to deposit amount within one month, failing which relaxation lapses and liquidator can seek alternate buyer as per law. Appeal disposed of.
Doctrine of necessity invoked to grant opportunity to deposit balance amount into liquidation account to avoid liquidation and enable Corporate Debtor to revive as going concern. Section 60(5) of Insolvency and Bankruptcy Code, 2016 empowers Tribunal to pass appropriate order to meet Code's objective despite contrary provisions. Appellant granted last chance to deposit amount within one month, failing which relaxation lapses and liquidator can seek alternate buyer as per law. Appeal disposed of.
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