Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
The High Court held that the Deed of Guarantee was conditional upon the approval of the CDR package by the CDR-EG and acceptance by all lenders. Since the CDR package was not approved, the Deed of Guarantee did not become operative. The Court declared by way of interim relief that the Deed of Guarantee dated 10 April 2014 has not become operative. However, this interim declaration does not stay the proceedings initiated against the Plaintiff by the banks before the DRT under the RDB Act or the proceedings before the Tribunals under the IBC, 2016. The Tribunals may consider the interim declaration while exercising their statutory jurisdiction.
The High Court held that the Deed of Guarantee was conditional upon the approval of the CDR package by the CDR-EG and acceptance by all lenders. Since the CDR package was not approved, the Deed of Guarantee did not become operative. The Court declared by way of interim relief that the Deed of Guarantee dated 10 April 2014 has not become operative. However, this interim declaration does not stay the proceedings initiated against the Plaintiff by the banks before the DRT under the RDB Act or the proceedings before the Tribunals under the IBC, 2016. The Tribunals may consider the interim declaration while exercising their statutory jurisdiction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
