Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
Validity of auction cancellation under the e-Auction Process Memorandum and IBBI Liquidation Regulations was examined: where a successful bidder fails to pay the balance within the prescribed period (including permitted extensions), the liquidator may cancel the sale and re-auction-cancellation was upheld. Clause 11 permitted forfeiture of the EMD for non payment and that forfeiture was sustained. Applying restitutionary principles to prevent unjust enrichment, the Tribunal held that retention of an additional 25% deposit could not be sustained where the liquidator recovered the same sale consideration in a subsequent auction, and directed refund of that deposit with interest.
Validity of auction cancellation under the e-Auction Process Memorandum and IBBI Liquidation Regulations was examined: where a successful bidder fails to pay the balance within the prescribed period (including permitted extensions), the liquidator may cancel the sale and re-auction-cancellation was upheld. Clause 11 permitted forfeiture of the EMD for non payment and that forfeiture was sustained. Applying restitutionary principles to prevent unjust enrichment, the Tribunal held that retention of an additional 25% deposit could not be sustained where the liquidator recovered the same sale consideration in a subsequent auction, and directed refund of that deposit with interest.
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