Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Court set aside auction sale on equitable grounds as entire amount due was deposited by respondents. Appellant deprived of using Rs.81,20,000 from 21.07.2019 till refund, entitled to interest at 6% per annum on said amount from deposit date till refund date. Auction conducted by respondent at bank's instance, hence bank liable to pay interest. Impugned judgments modified to direct bank to pay simple interest at 6% per annum on Rs.81,20,000 to appellant from 21.07.2019 till actual refund date instead of 5% solatium. Appeal partly allowed.
Court set aside auction sale on equitable grounds as entire amount due was deposited by respondents. Appellant deprived of using Rs.81,20,000 from 21.07.2019 till refund, entitled to interest at 6% per annum on said amount from deposit date till refund date. Auction conducted by respondent at bank's instance, hence bank liable to pay interest. Impugned judgments modified to direct bank to pay simple interest at 6% per annum on Rs.81,20,000 to appellant from 21.07.2019 till actual refund date instead of 5% solatium. Appeal partly allowed.
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