Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
The SC held that the respondent's Section 34 application under the ACA, filed on 11.07.2022 (the next court working day), was within the limitation period and required no condonation of delay. The High Court correctly allowed the Section 37 appeal, determining the application was timely filed. The Court declined to interfere with the High Court's interim direction staying execution of pending recovery until merits adjudication, noting the appellant had already withdrawn 50% of the arbitral sum deposited by the respondent. The appeal was accordingly dismissed.
The SC held that the respondent's Section 34 application under the ACA, filed on 11.07.2022 (the next court working day), was within the limitation period and required no condonation of delay. The High Court correctly allowed the Section 37 appeal, determining the application was timely filed. The Court declined to interfere with the High Court's interim direction staying execution of pending recovery until merits adjudication, noting the appellant had already withdrawn 50% of the arbitral sum deposited by the respondent. The appeal was accordingly dismissed.
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