Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
NCLAT dismissed the appeal, upholding the sale transactions of properties under SARFAESI Act. The Tribunal determined that the borrower's right of redemption was extinguished upon issuance of e-auction notice, as per amended Section 13(8). The jural relationship between parties for both properties terminated prior to the Corporate Insolvency Resolution Process commencement, with sale certificates issued before the critical date. The secured creditor's actions were deemed valid, including self-purchase of properties under Sections 13(5A) and 13(5B), and the appellant's contentions regarding non-deposit of sale consideration were rejected.
NCLAT dismissed the appeal, upholding the sale transactions of properties under SARFAESI Act. The Tribunal determined that the borrower's right of redemption was extinguished upon issuance of e-auction notice, as per amended Section 13(8). The jural relationship between parties for both properties terminated prior to the Corporate Insolvency Resolution Process commencement, with sale certificates issued before the critical date. The secured creditor's actions were deemed valid, including self-purchase of properties under Sections 13(5A) and 13(5B), and the appellant's contentions regarding non-deposit of sale consideration were rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
