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...
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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