Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Debts due to secured creditors under SARFAESI Act have priority over debts under FEMA. SARFAESI Act being a later enactment prevails over earlier FEMA. SARFAESI Act overrides provisions of FEMA and secured creditor's dues prevail over FEMA dues. Section 37A of FEMA being prospective cannot apply to property already mortgaged before its enactment. Under RDBI Act, secured creditor's claim has priority over FEMA dues. FEMA dues payable to government covered under provisions granting priority to secured creditors. Availability of appeal remedy does not oust writ jurisdiction. Impugned order attaching mortgaged property for FEMA dues quashed. Property to be released to secured creditor.
Debts due to secured creditors under SARFAESI Act have priority over debts under FEMA. SARFAESI Act being a later enactment prevails over earlier FEMA. SARFAESI Act overrides provisions of FEMA and secured creditor's dues prevail over FEMA dues. Section 37A of FEMA being prospective cannot apply to property already mortgaged before its enactment. Under RDBI Act, secured creditor's claim has priority over FEMA dues. FEMA dues payable to government covered under provisions granting priority to secured creditors. Availability of appeal remedy does not oust writ jurisdiction. Impugned order attaching mortgaged property for FEMA dues quashed. Property to be released to secured creditor.
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TaxTMI 
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