Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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The court dismissed the petition challenging the auction process for sale of the property and seeking refund of the purchase price paid by the petitioner as the successful auction purchaser. The property was initially attached by the competent authority under the Maharashtra Protection of Interest of Depositors (MPID) Act due to the financial establishment's failure to return deposits. Subsequently, the designated court released the property from attachment, enabling its sale through auction under due process of law. The court held that once the property vested in the competent authority and was sold to the petitioner after lifting the attachment, the petitioner could enjoy the property without requiring title deeds. The court clarified that the secured creditor's rights flow from agreements creating security interest, which was not applicable in this case involving attachment under the MPID Act. Consequently, the petitioner's claims for refund, interest, damages, and compensation were rejected as lacking merit.
The court dismissed the petition challenging the auction process for sale of the property and seeking refund of the purchase price paid by the petitioner as the successful auction purchaser. The property was initially attached by the competent authority under the Maharashtra Protection of Interest of Depositors (MPID) Act due to the financial establishment's failure to return deposits. Subsequently, the designated court released the property from attachment, enabling its sale through auction under due process of law. The court held that once the property vested in the competent authority and was sold to the petitioner after lifting the attachment, the petitioner could enjoy the property without requiring title deeds. The court clarified that the secured creditor's rights flow from agreements creating security interest, which was not applicable in this case involving attachment under the MPID Act. Consequently, the petitioner's claims for refund, interest, damages, and compensation were rejected as lacking merit.
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