Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
The piece addresses validity of a registered apartment owners association and the obligation to hand over maintenance and IFMS funds. It explains Rule 55 as governing custody and use of the common seal but finds an affidavit by the association president sufficient where no deed is executed, so Rule 55 does not bar the association's application. Registration granted under the Uttar Pradesh Apartment Act is treated as conclusive against collateral attack on prerequisites. Resultingly, the authority is directed to transfer maintenance to the registered association within thirty days under the supervision of the Interim Resolution Professional.
The piece addresses validity of a registered apartment owners association and the obligation to hand over maintenance and IFMS funds. It explains Rule 55 as governing custody and use of the common seal but finds an affidavit by the association president sufficient where no deed is executed, so Rule 55 does not bar the association's application. Registration granted under the Uttar Pradesh Apartment Act is treated as conclusive against collateral attack on prerequisites. Resultingly, the authority is directed to transfer maintenance to the registered association within thirty days under the supervision of the Interim Resolution Professional.
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