Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
Charitable tree plantation and maintenance for environmental preservation treated as "charitable activity", exempt from GST under Notification 12/2017...
Avoidance of a pre-CIRP sale as a fraudulent transaction was sought on the ground that it was without consideration and intended to defraud creditors. In the absence of any pending creditor claims at the time of execution, the subsequent classification of the debtor's bank account as NPA, and the presence of other secured assets, the requisite intent to defraud was not established; the liquidator failed to discharge the heavy burden of proof. Alleged সনà§à¦¦ about an old acknowledgment letter and the purchaser's non-production of decades-old payment records did not negate consideration, especially where contemporaneous corporate disclosures and financial statements corroborated the transfer, and consideration could be furnished by a third party. The appeal was dismissed. - SC
Avoidance of a pre-CIRP sale as a fraudulent transaction was sought on the ground that it was without consideration and intended to defraud creditors. In the absence of any pending creditor claims at the time of execution, the subsequent classification of the debtor's bank account as NPA, and the presence of other secured assets, the requisite intent to defraud was not established; the liquidator failed to discharge the heavy burden of proof. Alleged সনà§à¦¦ about an old acknowledgment letter and the purchaser's non-production of decades-old payment records did not negate consideration, especially where contemporaneous corporate disclosures and financial statements corroborated the transfer, and consideration could be furnished by a third party. The appeal was dismissed. - SC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
