Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
The Tribunal considered whether a security deposit taken under an interim order could continue to be retained under the Insolvency and Bankruptcy Code where the underlying contractual dispute was to be addressed through arbitration. It held that retention of the deposit after the miscellaneous application had been finally decided required an independent assessment under the Arbitration Act, and that directing continued retention under the IBC before arbitration commenced would be arbitrary. By consent, the impugned direction was modified so the amount would remain only as security until either party initiates arbitration, after which further custody of the amount would be governed by the arbitrator's orders on appropriate interlocutory applications.
The Tribunal considered whether a security deposit taken under an interim order could continue to be retained under the Insolvency and Bankruptcy Code where the underlying contractual dispute was to be addressed through arbitration. It held that retention of the deposit after the miscellaneous application had been finally decided required an independent assessment under the Arbitration Act, and that directing continued retention under the IBC before arbitration commenced would be arbitrary. By consent, the impugned direction was modified so the amount would remain only as security until either party initiates arbitration, after which further custody of the amount would be governed by the arbitrator's orders on appropriate interlocutory applications.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
