Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
NCLAT held that the NCLT committed a manifest illegality by declining release of Flat No. 2402 in "Mantri Pinnacle", Bengaluru, to the successful resolution applicant (SRA) solely on the basis of an interim order of the SC, without first determining whether the said flat was actually covered by the ED's provisional attachment order. NCLT improperly shifted the burden to the enforcement authority by granting liberty to the SRA to approach it, instead of adjudicating the specific issue of attachment. NCLAT set aside the impugned order and remanded the matter to NCLT to reconsider the application afresh, ascertain the attachment status of the property, and pass appropriate orders in accordance with law after granting due hearing to all parties.
NCLAT held that the NCLT committed a manifest illegality by declining release of Flat No. 2402 in "Mantri Pinnacle", Bengaluru, to the successful resolution applicant (SRA) solely on the basis of an interim order of the SC, without first determining whether the said flat was actually covered by the ED's provisional attachment order. NCLT improperly shifted the burden to the enforcement authority by granting liberty to the SRA to approach it, instead of adjudicating the specific issue of attachment. NCLAT set aside the impugned order and remanded the matter to NCLT to reconsider the application afresh, ascertain the attachment status of the property, and pass appropriate orders in accordance with law after granting due hearing to all parties.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
