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...
Section 14 moratorium under the IB Code applies only to the corporate debtor against whom CIRP has been initiated, so it cannot bar proceedings against a separate principal borrower who is not subject to insolvency proceedings. The Court held that the corporate guarantor's insolvency and possible resolution do not extinguish the borrower's independent liability to the creditor, and the suit could proceed against the borrower. Section 96 interim moratorium for personal guarantors was also confined to the debts of those guarantors and could not be extended to protect the principal borrower. The suit was therefore stayed only against the corporate and personal guarantors, and continued against the borrower.
Section 14 moratorium under the IB Code applies only to the corporate debtor against whom CIRP has been initiated, so it cannot bar proceedings against a separate principal borrower who is not subject to insolvency proceedings. The Court held that the corporate guarantor's insolvency and possible resolution do not extinguish the borrower's independent liability to the creditor, and the suit could proceed against the borrower. Section 96 interim moratorium for personal guarantors was also confined to the debts of those guarantors and could not be extended to protect the principal borrower. The suit was therefore stayed only against the corporate and personal guarantors, and continued against the borrower.
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