Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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The National Company Law Tribunal (NCLT) upheld the validity of the sale of immovable property by the respondent bank under the SARFAESI Act. The appellant company argued that its shareholder does not have ownership rights over the property. However, the NCLT held that the respondent bank acquired shares and a flat through valid SARFAESI proceedings, amounting to transmission of shares by operation of law. The NCLAT relied on precedents to affirm that an award by an arbitrator falls within the ambit of transmission by operation of law, and the NCLT has powers to condone delays u/s 58 of the Companies Act, 2013. The NCLAT dismissed the appeal, finding no reason to interfere with the reasoned NCLT order.
The National Company Law Tribunal (NCLT) upheld the validity of the sale of immovable property by the respondent bank under the SARFAESI Act. The appellant company argued that its shareholder does not have ownership rights over the property. However, the NCLT held that the respondent bank acquired shares and a flat through valid SARFAESI proceedings, amounting to transmission of shares by operation of law. The NCLAT relied on precedents to affirm that an award by an arbitrator falls within the ambit of transmission by operation of law, and the NCLT has powers to condone delays u/s 58 of the Companies Act, 2013. The NCLAT dismissed the appeal, finding no reason to interfere with the reasoned NCLT order.
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