Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
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Approval of a corporate debtor's resolution plan was held not to ipso facto discharge a third-party security provider/surety from contractual liability. The plan expressly preserved financial creditors' rights against third parties, including existing promoters/security providers, in respect of the "unsustainable debt," while stipulating that any claim by such third parties against the corporate debtor or resolution applicant arising from invocation/enforcement of the security would be settled at NIL value. On this construction, the plan did not extinguish the entire debt so as to bar creditor claims against the third-party security provider. The appeal was dismissed. - SC
Approval of a corporate debtor's resolution plan was held not to ipso facto discharge a third-party security provider/surety from contractual liability. The plan expressly preserved financial creditors' rights against third parties, including existing promoters/security providers, in respect of the "unsustainable debt," while stipulating that any claim by such third parties against the corporate debtor or resolution applicant arising from invocation/enforcement of the security would be settled at NIL value. On this construction, the plan did not extinguish the entire debt so as to bar creditor claims against the third-party security provider. The appeal was dismissed. - SC
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