Appeal allows marketing payments as deductible business expenses under Sec.37; director pay retained; R&D deductible from certificate date under Sec.3...
Registration under s.12AB upheld; CIT(Exemptions) exceeded jurisdiction by deciding taxability instead of preliminary verification and registration di...
Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
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The NCLAT dismissed the appeal and upheld the impugned order directing the Appellant to deliver the title deeds to the Liquidator. The Tribunal held the Appellant lacked any sustainable proprietary or equitable-mortgage rights because the material Memorandum of Deposit of Title Deed (MoDT) dated 30.12.2020 was unregistered and therefore inadmissible and ineffective under Section 17 read with the State amendment and barred from evidence by Section 49 of the Registration Act; the registered Agreement for Sale alone did not confer an enforceable right in the absence of specific-performance proceedings and the Appellant's failure to lodge a claim with the Liquidator.
The NCLAT dismissed the appeal and upheld the impugned order directing the Appellant to deliver the title deeds to the Liquidator. The Tribunal held the Appellant lacked any sustainable proprietary or equitable-mortgage rights because the material Memorandum of Deposit of Title Deed (MoDT) dated 30.12.2020 was unregistered and therefore inadmissible and ineffective under Section 17 read with the State amendment and barred from evidence by Section 49 of the Registration Act; the registered Agreement for Sale alone did not confer an enforceable right in the absence of specific-performance proceedings and the Appellant's failure to lodge a claim with the Liquidator.
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