Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
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...
Insurance claim repudiation is governed by Section 45 of the Insurance Act, 1938, barring questioning of policies after a stipulated period unless proven by the insurer. The burden rests on the insurer to establish materiality of suppressed facts and insured's knowledge for justifying repudiation. Insurance contracts demand utmost good faith (uberrimae fidei), requiring disclosure of previous policies. Materiality depends on whether prudent insurers would be affected in risk assessment or premium fixation. The insurer failed to provide documentary evidence proving the deceased insured possessed multiple undisclosed policies from other companies. Consequently, the repudiation was held unjustified, and the insurer was directed to pay the claim amounts with interest.
Insurance claim repudiation is governed by Section 45 of the Insurance Act, 1938, barring questioning of policies after a stipulated period unless proven by the insurer. The burden rests on the insurer to establish materiality of suppressed facts and insured's knowledge for justifying repudiation. Insurance contracts demand utmost good faith (uberrimae fidei), requiring disclosure of previous policies. Materiality depends on whether prudent insurers would be affected in risk assessment or premium fixation. The insurer failed to provide documentary evidence proving the deceased insured possessed multiple undisclosed policies from other companies. Consequently, the repudiation was held unjustified, and the insurer was directed to pay the claim amounts with interest.
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