Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Corporate guarantee and cost-overrun undertakings were interpreted as limited obligations to infuse equity, meet shortfalls, or cover specified contingencies; they did not create a liability to repay the principal borrower's loan, so a Section 7 petition against the corporate debtor was not maintainable on that basis. The tribunal also held that default of the principal borrower could not be treated as the guarantor's default; default arose only after invocation of the guarantee and non-payment thereafter, which on the bank's own case fell within the Section 10A suspension period. Non-consideration of the later guarantee deed and inconsistent treatment of the same transaction further indicated non-application of mind, making the admission order unsustainable.
Corporate guarantee and cost-overrun undertakings were interpreted as limited obligations to infuse equity, meet shortfalls, or cover specified contingencies; they did not create a liability to repay the principal borrower's loan, so a Section 7 petition against the corporate debtor was not maintainable on that basis. The tribunal also held that default of the principal borrower could not be treated as the guarantor's default; default arose only after invocation of the guarantee and non-payment thereafter, which on the bank's own case fell within the Section 10A suspension period. Non-consideration of the later guarantee deed and inconsistent treatment of the same transaction further indicated non-application of mind, making the admission order unsustainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
