Religious purpose exclusion versus charitable purpose: non overriding religious objects do not attract Explanation 3, registration directed under sect...
Search-assessment proviso jurisdiction, time-barred valuation reports, and denial of cross-examination vitiate valuation-based and confession-based ad...
Statutory trust rights under the NABARD Act and Rule 10 of the FSP Rules require the administrator to segregate third party receivables; filing a claim in Form C does not relinquish statutory entitlements, and providing transaction details preserves those rights. The adjudicating authority erred by treating the claimant's CoC membership and the resolution plan as extinguishing the statutory claim; the approved distribution mechanism already carved out amounts for the statutory claimant and mandates payment if the application succeeds. The appellate forum allowed the application, set aside the rejection, and ordered payment from the amount set apart with adjustment for sums previously paid.
Statutory trust rights under the NABARD Act and Rule 10 of the FSP Rules require the administrator to segregate third party receivables; filing a claim in Form C does not relinquish statutory entitlements, and providing transaction details preserves those rights. The adjudicating authority erred by treating the claimant's CoC membership and the resolution plan as extinguishing the statutory claim; the approved distribution mechanism already carved out amounts for the statutory claimant and mandates payment if the application succeeds. The appellate forum allowed the application, set aside the rejection, and ordered payment from the amount set apart with adjustment for sums previously paid.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
