Approved gratuity fund provisions remain deductible despite general actual-payment requirements, preventing revision of the allowed gratuity deduction...
Verification of intangible software expenditure and duplicated disallowances requires record-based reassessment before depreciation and income computa...
Cash receipt aggregation requires a single transaction, event or occasion; separate partner capital contributions cannot attract cash-receipt penaltie...
The Appellate Tribunal (NCLAT) dismissed the company appeal as time-barred, holding the appellant could not invoke Section 14 Limitation Act to exclude periods spent litigating a commercial suit which he instituted and pursued to final judgment on 05.10.2021. The tribunal found the appellant had constructive knowledge of the alleged wrongful transfer of 500 shares on 11.05.2016, rendering proceedings under Section 59 Companies Act barred by the limitation period read with Sections 3 and 5 Limitation Act. The earlier Commercial Court judgment operating as constructive res judicata precludes relief; no extension of limitation was warranted and the appeal was accordingly dismissed.
The Appellate Tribunal (NCLAT) dismissed the company appeal as time-barred, holding the appellant could not invoke Section 14 Limitation Act to exclude periods spent litigating a commercial suit which he instituted and pursued to final judgment on 05.10.2021. The tribunal found the appellant had constructive knowledge of the alleged wrongful transfer of 500 shares on 11.05.2016, rendering proceedings under Section 59 Companies Act barred by the limitation period read with Sections 3 and 5 Limitation Act. The earlier Commercial Court judgment operating as constructive res judicata precludes relief; no extension of limitation was warranted and the appeal was accordingly dismissed.
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