Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The HC dismissed all three appeals, holding that no proprietary right vested in the Purchaser in Liquidation under Section 54 because the Agreement to Sell stipulated full payment within 12 months and conditional transfer rights; permission to take bookings did not amount to a transferable right. The vendor validly terminated the ATS pursuant to its terms and is entitled to forfeit 20% of the sale consideration. The vendor must be afforded an opportunity to prove actual damages, particularly arising from the Purchaser's default in payments to the Authority, aggregate dues exceeding Rs.25 crores. The Court declined to adjudicate disputed monetary claims absent evidence and noted the Purchaser had not instituted a suit triable under Section 446(2).
The HC dismissed all three appeals, holding that no proprietary right vested in the Purchaser in Liquidation under Section 54 because the Agreement to Sell stipulated full payment within 12 months and conditional transfer rights; permission to take bookings did not amount to a transferable right. The vendor validly terminated the ATS pursuant to its terms and is entitled to forfeit 20% of the sale consideration. The vendor must be afforded an opportunity to prove actual damages, particularly arising from the Purchaser's default in payments to the Authority, aggregate dues exceeding Rs.25 crores. The Court declined to adjudicate disputed monetary claims absent evidence and noted the Purchaser had not instituted a suit triable under Section 446(2).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
