Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
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 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 4780
Join Channel
TaxTMI 
