Revenue classification: agricultural land treated as capital asset under s.2(14)(iii)(b); consideration fixed at Rs.1,00,44,000; s.54F exemption allow...
Appeal allowed, exemption under section 11 restored for not-for-profit company under section 12A carrying out charitable activities including micro-fi...
Page of 4830
Press 'Enter' after typing page number.
10881 to 10900 of 96587 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The SC affirmed the NCLAT's conclusion that the appellants were speculative investors and upheld the orders setting aside admission of the Section 7 IBC applications, thereby denying initiation of CIRP at their instance. The Court further held the Ordinance/Amendment Act introducing threshold requirements for allottee-initiated Section 7 petitions is applicable to the facts and, to that extent, set aside the first impugned order. The appellants remain at liberty to pursue alternative remedies before appropriate fora; any such proceedings will not be barred by limitation. The appeals are disposed of accordingly.
The SC affirmed the NCLAT's conclusion that the appellants were speculative investors and upheld the orders setting aside admission of the Section 7 IBC applications, thereby denying initiation of CIRP at their instance. The Court further held the Ordinance/Amendment Act introducing threshold requirements for allottee-initiated Section 7 petitions is applicable to the facts and, to that extent, set aside the first impugned order. The appellants remain at liberty to pursue alternative remedies before appropriate fora; any such proceedings will not be barred by limitation. The appeals are disposed of accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
