Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
The insolvency admission was upheld because the corporate debtor could not reopen the validity of bank guarantee invocation after the DRT had already found that the guarantees were invoked before expiry and that finding had attained finality. The tribunal also treated the later one time settlement as a formal acknowledgment of the outstanding debt, and the debtor's failure to comply with that settlement constituted default. In view of the admitted sanction of the credit facility, execution of the corporate guarantee and mortgage, and remittance by the bank on invocation, the challenge to admission was untenable and the insolvency application remained valid.
The insolvency admission was upheld because the corporate debtor could not reopen the validity of bank guarantee invocation after the DRT had already found that the guarantees were invoked before expiry and that finding had attained finality. The tribunal also treated the later one time settlement as a formal acknowledgment of the outstanding debt, and the debtor's failure to comply with that settlement constituted default. In view of the admitted sanction of the credit facility, execution of the corporate guarantee and mortgage, and remittance by the bank on invocation, the challenge to admission was untenable and the insolvency application remained valid.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
