Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
The NCLAT held that the moratorium u/s 14 of the IBC shall not impede the invocation of an irrevocable bank guarantee, which is an independent and separate contract between the parties. If the bank guarantee is invoked and any amount is received by Respondent No. 1, their claim has to be revised as intimated by the IRP. The Appellate Tribunal found no error committed by the Adjudicating Authority in allowing the application filed by the Respondent and dismissed the appeal.
The NCLAT held that the moratorium u/s 14 of the IBC shall not impede the invocation of an irrevocable bank guarantee, which is an independent and separate contract between the parties. If the bank guarantee is invoked and any amount is received by Respondent No. 1, their claim has to be revised as intimated by the IRP. The Appellate Tribunal found no error committed by the Adjudicating Authority in allowing the application filed by the Respondent and dismissed the appeal.
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