Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
NCLAT analyzed a complex insolvency resolution case involving an assignment agreement and Section 7 application. The Tribunal held that the assignment agreement is partially void regarding immovable property in Tamil Nadu under Section 28 of the Registration Act, but remains valid for other financial assets. The Section 7 application was deemed not time-barred due to continuous debt acknowledgment in balance sheets. The appellant's deposit of principal amount did not discharge the financial creditor's debt, as the amount was not reflective of the debt at the time of application. The Tribunal ultimately upheld the adjudicating authority's order admitting the Section 7 application and disposed of the appeal accordingly.
NCLAT analyzed a complex insolvency resolution case involving an assignment agreement and Section 7 application. The Tribunal held that the assignment agreement is partially void regarding immovable property in Tamil Nadu under Section 28 of the Registration Act, but remains valid for other financial assets. The Section 7 application was deemed not time-barred due to continuous debt acknowledgment in balance sheets. The appellant's deposit of principal amount did not discharge the financial creditor's debt, as the amount was not reflective of the debt at the time of application. The Tribunal ultimately upheld the adjudicating authority's order admitting the Section 7 application and disposed of the appeal accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
