Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
An NCLAT decision held that a post-reservation application seeking leave to deposit the entire claimed debt could not be ignored when it had already been taken on record, notice had been issued, and it was fixed for later consideration. Because the admission of the section 7 insolvency petition was made without addressing that pending application and the proposed full deposit, the admission order was set aside as unsustainable. The Tribunal also held that section 12A did not apply, since there was no settlement between the parties; the matter involved only a unilateral offer by the corporate debtor to deposit the claimed amount. The appeal was allowed, and payment was directed subject to the debtor's entitlement being finally determined in the pending recovery proceedings.
An NCLAT decision held that a post-reservation application seeking leave to deposit the entire claimed debt could not be ignored when it had already been taken on record, notice had been issued, and it was fixed for later consideration. Because the admission of the section 7 insolvency petition was made without addressing that pending application and the proposed full deposit, the admission order was set aside as unsustainable. The Tribunal also held that section 12A did not apply, since there was no settlement between the parties; the matter involved only a unilateral offer by the corporate debtor to deposit the claimed amount. The appeal was allowed, and payment was directed subject to the debtor's entitlement being finally determined in the pending recovery proceedings.
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