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...
SC held that the Limitation Act applies comprehensively to recovery proceedings. Section 18 permits limitation period extension when liability is acknowledged, particularly where payment time has not yet matured. The respondents' technical objections were deemed dilatory, as they were aware of previous judicial determinations. The High Court's order was set aside, with writ petitions to be restored and heard after disposal of pending intra-court appeals. The limitation period for recovery proceedings was effectively extended due to respondents' liability acknowledgment, enabling the appellant to pursue legal remedies within prescribed timelines.
SC held that the Limitation Act applies comprehensively to recovery proceedings. Section 18 permits limitation period extension when liability is acknowledged, particularly where payment time has not yet matured. The respondents' technical objections were deemed dilatory, as they were aware of previous judicial determinations. The High Court's order was set aside, with writ petitions to be restored and heard after disposal of pending intra-court appeals. The limitation period for recovery proceedings was effectively extended due to respondents' liability acknowledgment, enabling the appellant to pursue legal remedies within prescribed timelines.
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