Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
HC adjudicated that the petitioner-society qualifies as a "Government Entity" under Clause (zfa) of the 13.10.2017 notification, since it is controlled and substantially funded by the State and satisfies the statutory requirement of 90% or more participation by way of equity or control. Upon harmonious construction of the relevant notifications and definitions, HC held that the tax exemption granted to a "Government Entity" squarely applies to the petitioner. The contrary view taken by the fourth respondent, merely relying on the fact that other similar entities are paying tax, was found unsustainable in law. Consequently, the impugned communication dated 07.07.2021 was quashed and the writ petition was allowed in full.
HC adjudicated that the petitioner-society qualifies as a "Government Entity" under Clause (zfa) of the 13.10.2017 notification, since it is controlled and substantially funded by the State and satisfies the statutory requirement of 90% or more participation by way of equity or control. Upon harmonious construction of the relevant notifications and definitions, HC held that the tax exemption granted to a "Government Entity" squarely applies to the petitioner. The contrary view taken by the fourth respondent, merely relying on the fact that other similar entities are paying tax, was found unsustainable in law. Consequently, the impugned communication dated 07.07.2021 was quashed and the writ petition was allowed in full.
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