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...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
A Co operative Court award operates as a money decree enforceable like a civil decree, rendering the judgment debtor's property liable to attachment and sale; its executory effect could not be collaterally impugned once the order rejecting a belated set aside had become final. Revisionary jurisdiction under the statute is maintainable to examine confirmation of sale despite parallel rule remedies; the revisional forum may annul confirmation. Clauses (g) and (h) of Rule 107(11) impose a mandatory auction deposit regime, and failure to pay the balance within the prescribed period vitiated the sale confirmation. Remedy ordered: sale and confirmation set aside, fresh auction under Rule 107(11)(j), refund of purchaser's deposit with interest, rights to compromise preserved.
A Co operative Court award operates as a money decree enforceable like a civil decree, rendering the judgment debtor's property liable to attachment and sale; its executory effect could not be collaterally impugned once the order rejecting a belated set aside had become final. Revisionary jurisdiction under the statute is maintainable to examine confirmation of sale despite parallel rule remedies; the revisional forum may annul confirmation. Clauses (g) and (h) of Rule 107(11) impose a mandatory auction deposit regime, and failure to pay the balance within the prescribed period vitiated the sale confirmation. Remedy ordered: sale and confirmation set aside, fresh auction under Rule 107(11)(j), refund of purchaser's deposit with interest, rights to compromise preserved.
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