Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
In real estate insolvency, where the Section 7 applicants were allottees of one project and the alleged default related only to that project, the NCLAT held that the CIRP should proceed on a project-specific basis. The admission order was modified to confine the insolvency process to Krishna Housing Scheme, since extending it to other projects would prejudice separate homebuyers and stakeholders. The Tribunal further held that claims in the CIRP must also be limited to that project, while the IRP/RP may process claims under the CIRP Regulations and need not adjudicate individual creditor disputes at this stage. Creditors and financial institutions linked to other projects were left free to pursue independent remedies.
In real estate insolvency, where the Section 7 applicants were allottees of one project and the alleged default related only to that project, the NCLAT held that the CIRP should proceed on a project-specific basis. The admission order was modified to confine the insolvency process to Krishna Housing Scheme, since extending it to other projects would prejudice separate homebuyers and stakeholders. The Tribunal further held that claims in the CIRP must also be limited to that project, while the IRP/RP may process claims under the CIRP Regulations and need not adjudicate individual creditor disputes at this stage. Creditors and financial institutions linked to other projects were left free to pursue independent remedies.
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