Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
SC held that Section 11 of SARFAESI Act mandates statutory arbitration for disputes between banks, financial institutions, or asset reconstruction companies relating to securitization, reconstruction, or non-payment of dues. The provision creates a legal fiction presuming an arbitration agreement exists without requiring explicit written consent. The court affirmed that the dispute resolution mechanism under Section 11 is mandatory and cannot be circumvented by alternative guidelines. Consequently, the appeal was dismissed, directing the parties to resolve their dispute through arbitration as prescribed under the SARFAESI Act.
SC held that Section 11 of SARFAESI Act mandates statutory arbitration for disputes between banks, financial institutions, or asset reconstruction companies relating to securitization, reconstruction, or non-payment of dues. The provision creates a legal fiction presuming an arbitration agreement exists without requiring explicit written consent. The court affirmed that the dispute resolution mechanism under Section 11 is mandatory and cannot be circumvented by alternative guidelines. Consequently, the appeal was dismissed, directing the parties to resolve their dispute through arbitration as prescribed under the SARFAESI Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
