Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Treat excess slump-sale consideration over identifiable tangible asset values as goodwill or commercial rights and allow depreciation thereon under section 32(1)(ii); adopt the Departmental Valuation Officer's fair market values for land, building and other tangible assets when computing depreciation and direct the Assessing Officer to recompute accordingly. Reject attributing the entire balance to land or limiting depreciation to transferor WDV where valuation shows a balancing figure. Verify claims for depreciation on landscaping and internal roads with opportunity to the taxpayer before adjudication.
Treat excess slump-sale consideration over identifiable tangible asset values as goodwill or commercial rights and allow depreciation thereon under section 32(1)(ii); adopt the Departmental Valuation Officer's fair market values for land, building and other tangible assets when computing depreciation and direct the Assessing Officer to recompute accordingly. Reject attributing the entire balance to land or limiting depreciation to transferor WDV where valuation shows a balancing figure. Verify claims for depreciation on landscaping and internal roads with opportunity to the taxpayer before adjudication.
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