Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
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Effect of a bankruptcy commencement order: the bankruptcy trustee is entrusted with administration and distribution of the bankrupts estate, and assets taken into the estate are for distribution among creditors, so an application to defreeze accounts was rightly rejected. Amounts credited to the debtors account after the bankruptcy commencement date do not automatically vest in the trustee and must be released to the bankrupt if the trustee has not asserted a claim by giving the prescribed notice; the bankrupt may apply to the adjudicating authority for directed release of specific sums for legitimate needs, to be considered with opportunity to the trustee.
Effect of a bankruptcy commencement order: the bankruptcy trustee is entrusted with administration and distribution of the bankrupts estate, and assets taken into the estate are for distribution among creditors, so an application to defreeze accounts was rightly rejected. Amounts credited to the debtors account after the bankruptcy commencement date do not automatically vest in the trustee and must be released to the bankrupt if the trustee has not asserted a claim by giving the prescribed notice; the bankrupt may apply to the adjudicating authority for directed release of specific sums for legitimate needs, to be considered with opportunity to the trustee.
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