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...
Existence of financial debt established through acknowledgment of part payments and promise to pay next installment. Section 10A bar not applicable as default occurred on 05.07.2021. Record of default sufficiently proved through loan documents and Corporate Debtor's admission, satisfying Section 7(3)(a) requirements. Stamping issue inconsequential given established debt and default above threshold. Authorized signatory confirmed through Board Resolution. Debt and default proven, exceeding Rs. 1 crore threshold. Petition admitted, Insolvency Resolution Professional appointed with directions to Financial Creditor regarding remuneration and expenses.
Existence of financial debt established through acknowledgment of part payments and promise to pay next installment. Section 10A bar not applicable as default occurred on 05.07.2021. Record of default sufficiently proved through loan documents and Corporate Debtor's admission, satisfying Section 7(3)(a) requirements. Stamping issue inconsequential given established debt and default above threshold. Authorized signatory confirmed through Board Resolution. Debt and default proven, exceeding Rs. 1 crore threshold. Petition admitted, Insolvency Resolution Professional appointed with directions to Financial Creditor regarding remuneration and expenses.
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