Mis-declaration and Concealment: confiscation affirmed, transaction value re-determined and mandatory penalty sustained; redemption allowed on payment...
Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
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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