Disallowance under tax law for investment expenses cannot be applied mechanically; authority must record clear reasons before increasing assessee's su...
NCLAT held that once an application had been permitted to be withdrawn, the tribunal was not required to make further observations affecting the parties' rights. The impugned liberty to run the company according to law and to file a petition under Section 241 went beyond the prayer sought, revived a controversy already concluded or withdrawn in earlier proceedings, and amounted to judicial overreach and relief beyond pleadings. Those observations were therefore quashed, while the parties remained free to pursue any other remedy available in law.
NCLAT held that once an application had been permitted to be withdrawn, the tribunal was not required to make further observations affecting the parties' rights. The impugned liberty to run the company according to law and to file a petition under Section 241 went beyond the prayer sought, revived a controversy already concluded or withdrawn in earlier proceedings, and amounted to judicial overreach and relief beyond pleadings. Those observations were therefore quashed, while the parties remained free to pursue any other remedy available in law.
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