Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
NCLAT upheld rejection of a society's belated claim in CIRP, holding that it had prior knowledge of the insolvency process, was called upon to file its claim, and had itself recorded that its dispute with the developer was fully and finally settled. In light of the approved resolution plan and the principles in RPS Infrastructure and Essar Steel, the Tribunal held that a delayed claim could not be entertained to reopen the CIRP after CoC approval. The later plea of breach of settlement was treated as an afterthought. As no independent infirmity remained in the resolution plan approval, the Tribunal declined appellate interference and left the plan undisturbed.
NCLAT upheld rejection of a society's belated claim in CIRP, holding that it had prior knowledge of the insolvency process, was called upon to file its claim, and had itself recorded that its dispute with the developer was fully and finally settled. In light of the approved resolution plan and the principles in RPS Infrastructure and Essar Steel, the Tribunal held that a delayed claim could not be entertained to reopen the CIRP after CoC approval. The later plea of breach of settlement was treated as an afterthought. As no independent infirmity remained in the resolution plan approval, the Tribunal declined appellate interference and left the plan undisturbed.
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