Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Conversion of Government loan liability and accrued interest into equity by allotment of shares was held not to constitute remission or cessation of liability, so no deemed income arose under s.41(1)(a); deletion of the addition was sustained in favour of the assessee. Contributions to a provident/pension fund could not be disallowed as to an unapproved fund once statutory recognition was granted post-amalgamation, since recognition was held to relate back to the effective amalgamation date; relief was granted to the assessee. Provision for insurance fund/no-fault liability was allowable only to the extent of actual payments pursuant to statutory liability or court orders; the revenue succeeded. Set-off under s.72A was allowed as the amalgamated entity owned an "industrial undertaking" by virtue of bus-body manufacture and compliance with prescribed confirmations; assessee succeeded. Share capital increase expenses were capital in nature; revenue succeeded - HC
Conversion of Government loan liability and accrued interest into equity by allotment of shares was held not to constitute remission or cessation of liability, so no deemed income arose under s.41(1)(a); deletion of the addition was sustained in favour of the assessee. Contributions to a provident/pension fund could not be disallowed as to an unapproved fund once statutory recognition was granted post-amalgamation, since recognition was held to relate back to the effective amalgamation date; relief was granted to the assessee. Provision for insurance fund/no-fault liability was allowable only to the extent of actual payments pursuant to statutory liability or court orders; the revenue succeeded. Set-off under s.72A was allowed as the amalgamated entity owned an "industrial undertaking" by virtue of bus-body manufacture and compliance with prescribed confirmations; assessee succeeded. Share capital increase expenses were capital in nature; revenue succeeded - HC
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