Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
NCLAT upheld the exclusion of period from 12.04.2023 to 01.07.2024 from the Resolution Plan implementation timeline. The Successful Resolution Applicant (SRA), an association representing 250 allottees, had demonstrated substantial implementation efforts by infusing Rs.7 crores out of Rs.10 crores, pursuing environmental clearances, and restoring electricity connections. During this period, an interim order restricted the SRA from transferring units and realizing Rs.50 crores. The Tribunal found that since the Resolution Plan's approval was under challenge with an operative interim order, the exclusion of implementation period was justified. The interim orders affecting financial execution warranted timeline extension. Appeal dismissed, affirming the Adjudicating Authority's order dated 28.08.2024.
NCLAT upheld the exclusion of period from 12.04.2023 to 01.07.2024 from the Resolution Plan implementation timeline. The Successful Resolution Applicant (SRA), an association representing 250 allottees, had demonstrated substantial implementation efforts by infusing Rs.7 crores out of Rs.10 crores, pursuing environmental clearances, and restoring electricity connections. During this period, an interim order restricted the SRA from transferring units and realizing Rs.50 crores. The Tribunal found that since the Resolution Plan's approval was under challenge with an operative interim order, the exclusion of implementation period was justified. The interim orders affecting financial execution warranted timeline extension. Appeal dismissed, affirming the Adjudicating Authority's order dated 28.08.2024.
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