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...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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Section 32A(2) of the IBC bars attachment or other action against a corporate debtor's property for offences committed before commencement of insolvency, and the statutory explanation expressly includes attachment within the prohibited action. Where the corporate debtor had already entered liquidation before the provisional attachment order was issued, the later attachment could not be sustained. The tribunal therefore treated both the provisional attachment order and its confirmation as contrary to Section 32A(2) and set them aside, holding that the property of the liquidating corporate debtor was immune from such post-liquidation attachment.
Section 32A(2) of the IBC bars attachment or other action against a corporate debtor's property for offences committed before commencement of insolvency, and the statutory explanation expressly includes attachment within the prohibited action. Where the corporate debtor had already entered liquidation before the provisional attachment order was issued, the later attachment could not be sustained. The tribunal therefore treated both the provisional attachment order and its confirmation as contrary to Section 32A(2) and set them aside, holding that the property of the liquidating corporate debtor was immune from such post-liquidation attachment.
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