Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
A foreign judgment is conclusive in India only if rendered after due judicial process, with a reasonable opportunity to defend and genuine consideration of substantive defences. The English decree failed this test because the respondent raised bona fide triable issues supported by contemporaneous documents, yet was denied leave to defend in summary proceedings; it was therefore not a judgment on merits and offended natural justice under Section 13 CPC, making it unenforceable under Section 44A read with Section 13 CPC. The Court further clarified that FERA does not bar adjudication of liability, but enforcement of a decree remains subject to prior regulatory permission under Section 47(3)(b).
A foreign judgment is conclusive in India only if rendered after due judicial process, with a reasonable opportunity to defend and genuine consideration of substantive defences. The English decree failed this test because the respondent raised bona fide triable issues supported by contemporaneous documents, yet was denied leave to defend in summary proceedings; it was therefore not a judgment on merits and offended natural justice under Section 13 CPC, making it unenforceable under Section 44A read with Section 13 CPC. The Court further clarified that FERA does not bar adjudication of liability, but enforcement of a decree remains subject to prior regulatory permission under Section 47(3)(b).
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4821 
Join Channel 
