Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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...
HC analyzed the extinguishment of electricity consumption claims not included in the Corporate Insolvency Resolution Plan (CIRP). The court held that debts not submitted or incorporated in the resolution plan before the effective date stand extinguished. The resolution plan's sanctity is paramount, and subsequent claims cannot be entertained. The court affirmed the first respondent's locus standi to challenge demand notices against group companies. The CIRP resolution plan remains valid and binding unless set aside by a competent authority. The appeal was partly allowed, emphasizing the strict interpretation of the Insolvency and Bankruptcy Code's provisions regarding debt resolution and claim settlement.
HC analyzed the extinguishment of electricity consumption claims not included in the Corporate Insolvency Resolution Plan (CIRP). The court held that debts not submitted or incorporated in the resolution plan before the effective date stand extinguished. The resolution plan's sanctity is paramount, and subsequent claims cannot be entertained. The court affirmed the first respondent's locus standi to challenge demand notices against group companies. The CIRP resolution plan remains valid and binding unless set aside by a competent authority. The appeal was partly allowed, emphasizing the strict interpretation of the Insolvency and Bankruptcy Code's provisions regarding debt resolution and claim settlement.
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