Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
A liquidator's later application seeking completion of sale of the corporate debtor as a going concern and wide-ranging reliefs was held not maintainable because an earlier application for similar reliefs had been withdrawn without liberty and had attained finality, attracting constructive res judicata. The Tribunal also held that the successful bidder was bound by the auction terms, which sold the asset on an "as is where is", "as is what is", "whatever there is" and "without recourse" basis. In such a sale, the purchaser bears the burden of due diligence and cannot seek post-sale concessions or shift pre-existing risks through later proceedings, especially while challenges to the auction remain pending. The appeal was dismissed.
A liquidator's later application seeking completion of sale of the corporate debtor as a going concern and wide-ranging reliefs was held not maintainable because an earlier application for similar reliefs had been withdrawn without liberty and had attained finality, attracting constructive res judicata. The Tribunal also held that the successful bidder was bound by the auction terms, which sold the asset on an "as is where is", "as is what is", "whatever there is" and "without recourse" basis. In such a sale, the purchaser bears the burden of due diligence and cannot seek post-sale concessions or shift pre-existing risks through later proceedings, especially while challenges to the auction remain pending. The appeal was dismissed.
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