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Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The High Court dismissed the application filed by the plaintiffs seeking an order to require the defendants to secure an amount of Rs. 1,14,88,833/- until the disposal of the suit. The Court held that the plaintiffs failed to establish a prima facie case against the defendants to demonstrate that they were attempting to dispose of or remove movable or immovable properties from the Court's jurisdiction to prevent the plaintiffs from realizing any decretal amount that may be awarded in the future. The Court found that the plaintiffs merely made a bald statement about apprehending the defendants' potential actions, without providing any supporting documents. The dispute over the principal amount of Rs. 77,05,223/- claimed by the plaintiffs, along with interest at 18% per annum, and the defendants' defense of having returned goods worth Rs. 55,24,252/- to the plaintiff company, remains a matter for trial.
The High Court dismissed the application filed by the plaintiffs seeking an order to require the defendants to secure an amount of Rs. 1,14,88,833/- until the disposal of the suit. The Court held that the plaintiffs failed to establish a prima facie case against the defendants to demonstrate that they were attempting to dispose of or remove movable or immovable properties from the Court's jurisdiction to prevent the plaintiffs from realizing any decretal amount that may be awarded in the future. The Court found that the plaintiffs merely made a bald statement about apprehending the defendants' potential actions, without providing any supporting documents. The dispute over the principal amount of Rs. 77,05,223/- claimed by the plaintiffs, along with interest at 18% per annum, and the defendants' defense of having returned goods worth Rs. 55,24,252/- to the plaintiff company, remains a matter for trial.
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