Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
The dominant issue was whether the provisional attachment could be sustained by treating the land purchases as benami transactions under section 2(9)(A) of the 1988 Act as amended in 2016, despite the acquisitions preceding the amendment and objections regarding "transfer/held" and notice. The tribunal found admissions that properties were purchased in the benamidar's name while consideration flowed from the alleged beneficial owner, and that the appellants failed to substantiate any asserted onward transfer arrangement. Holding that the statutory ingredients of section 2(9)(A) stood satisfied on facts and finding no basis to interfere, the appeals were dismissed and the attachment upheld - AT
The dominant issue was whether the provisional attachment could be sustained by treating the land purchases as benami transactions under section 2(9)(A) of the 1988 Act as amended in 2016, despite the acquisitions preceding the amendment and objections regarding "transfer/held" and notice. The tribunal found admissions that properties were purchased in the benamidar's name while consideration flowed from the alleged beneficial owner, and that the appellants failed to substantiate any asserted onward transfer arrangement. Holding that the statutory ingredients of section 2(9)(A) stood satisfied on facts and finding no basis to interfere, the appeals were dismissed and the attachment upheld - AT
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