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...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Attachment of Pre Offence Mortgaged Property remains possible under PMLA; secured creditors may pursue statutory claim and seek auction with undertaki...
Existence of financial debt was affirmed where original loan was sanctioned by a bank and subsequently assigned to an ARC, reflected in the corporate debtor's audited accounts and supporting security documents, so debt and default were established for Section 7 admission. The application was within limitation as per audited acknowledgements. Procedural defects-authorization, inadequate stamping, non-service on Information Utility-were treated as curable when cured during proceedings and did not defeat admission. Electronic records and bank statements were admissible at admission stage without a Section 65B certificate, and allegations of mala fides were unsustainable on the record.
Existence of financial debt was affirmed where original loan was sanctioned by a bank and subsequently assigned to an ARC, reflected in the corporate debtor's audited accounts and supporting security documents, so debt and default were established for Section 7 admission. The application was within limitation as per audited acknowledgements. Procedural defects-authorization, inadequate stamping, non-service on Information Utility-were treated as curable when cured during proceedings and did not defeat admission. Electronic records and bank statements were admissible at admission stage without a Section 65B certificate, and allegations of mala fides were unsustainable on the record.
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