Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Maintainability of an appeal depended on the power the tribunal purported to exercise, so a challenge to an order moved and dealt with under Section 17 was examinable under Section 37(2)(b), though the order was not a routine joinder order. On merits, the tribunal correctly preserved the parties' positions by allowing the same person already connected to the arbitration to participate also as trustee, pending the unresolved issue whether he had ceased to be a partner. The Court distinguished legal ownership from beneficial enjoyment, noted that a trust is not a separate legal entity, and found no perversity or error of law. The petition was rejected.
Maintainability of an appeal depended on the power the tribunal purported to exercise, so a challenge to an order moved and dealt with under Section 17 was examinable under Section 37(2)(b), though the order was not a routine joinder order. On merits, the tribunal correctly preserved the parties' positions by allowing the same person already connected to the arbitration to participate also as trustee, pending the unresolved issue whether he had ceased to be a partner. The Court distinguished legal ownership from beneficial enjoyment, noted that a trust is not a separate legal entity, and found no perversity or error of law. The petition was rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4809 
Join Channel 
