Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
The dominant issue was whether a deed clause and related pleadings created a "contract of guarantee" under s.126 of the Contract Act so as to support initiation of CIRP against the alleged surety under s.7 of the IBC. The Court held that a guarantee requires an unambiguous undertaking to discharge a third party's liability upon default; a limited statement in mortgage-enforcement pleadings that liability was confined to the mortgaged property did not establish such a guarantee, and case law on admissions under s.58 of the Evidence Act was inapplicable. Consequently, the rejection of the s.7 application was affirmed and the appeal was dismissed. - SC
The dominant issue was whether a deed clause and related pleadings created a "contract of guarantee" under s.126 of the Contract Act so as to support initiation of CIRP against the alleged surety under s.7 of the IBC. The Court held that a guarantee requires an unambiguous undertaking to discharge a third party's liability upon default; a limited statement in mortgage-enforcement pleadings that liability was confined to the mortgaged property did not establish such a guarantee, and case law on admissions under s.58 of the Evidence Act was inapplicable. Consequently, the rejection of the s.7 application was affirmed and the appeal was dismissed. - SC
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