Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
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 4803
Join Channel
TaxTMI 
