Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The HC upheld the impugned judgment in full and dismissed the appeal. The court found the revocation of the IPLOI (as amended) and subsequent invocation of the unconditional bank guarantee valid under the contractual terms: the Appellants defaulted, Clause 11 and the Addendum authorized termination and invocation, and the IPLOI prevailed over any RFP discrepancy. The Section 7 application filed by Respondent No.1 was not admitted before revocation and was ultimately dismissed as infructuous, so no actionable fraud was attributable to Respondent No.1; allegations of fraud were unpleaded and unproved. The court declined to restrain invocation of the unconditional BG absent egregious fraud or irretrievable injustice.
The HC upheld the impugned judgment in full and dismissed the appeal. The court found the revocation of the IPLOI (as amended) and subsequent invocation of the unconditional bank guarantee valid under the contractual terms: the Appellants defaulted, Clause 11 and the Addendum authorized termination and invocation, and the IPLOI prevailed over any RFP discrepancy. The Section 7 application filed by Respondent No.1 was not admitted before revocation and was ultimately dismissed as infructuous, so no actionable fraud was attributable to Respondent No.1; allegations of fraud were unpleaded and unproved. The court declined to restrain invocation of the unconditional BG absent egregious fraud or irretrievable injustice.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
