Co-operative society's mandatory reserve and share capital fixed deposits with banks-interest treated as business income under 80P(2)(a)(iii) deductio...
Income tax reassessment reopening after four years on investigation tip, without s.147 proviso disclosure failure, struck down as borrowed satisfactio...
Page of 4830
Press 'Enter' after typing page number.
7761 to 7780 of 96587 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Validation under Section 536(2) is exercised by the court to save bona fide interregnum dispositions: the court may "order otherwise" and validate transactions that are fair, expedient and in the interest of the company and its creditors, and the 2019 agreements were upheld on that ground. Insufficient stamping renders instruments inadmissible in evidence but is a curable defect and does not ipso facto render the agreements void, so the stamping objection was rejected. An irrevocable power of attorney creating an interest cannot be unilaterally revoked in liquidation and remained effective. External departmental correspondence did not nullify internal joint-venture arrangements acted upon and subsequently validated.
Validation under Section 536(2) is exercised by the court to save bona fide interregnum dispositions: the court may "order otherwise" and validate transactions that are fair, expedient and in the interest of the company and its creditors, and the 2019 agreements were upheld on that ground. Insufficient stamping renders instruments inadmissible in evidence but is a curable defect and does not ipso facto render the agreements void, so the stamping objection was rejected. An irrevocable power of attorney creating an interest cannot be unilaterally revoked in liquidation and remained effective. External departmental correspondence did not nullify internal joint-venture arrangements acted upon and subsequently validated.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4830 
Join Channel 
