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...
Homebuyers voting as a class through their authorised representative bound all class members, so individual dissenters could not unsettle a resolution plan that had already been validly approved and finally rejected in earlier challenge. The Court also held that the corporate veil could be lifted in CIRP where wholly owned or controlled subsidiaries functioned only as fronts for the holding company's integrated project activity; the leased project assets were therefore not outside the insolvency process. GNIDA was held disentitled to recover penal interest, penal charges and time-extension penalties because of its own delay and inaction, but it remained entitled to recalculated principal dues only, payable by the successful resolution applicants without interest during the payment period.
Homebuyers voting as a class through their authorised representative bound all class members, so individual dissenters could not unsettle a resolution plan that had already been validly approved and finally rejected in earlier challenge. The Court also held that the corporate veil could be lifted in CIRP where wholly owned or controlled subsidiaries functioned only as fronts for the holding company's integrated project activity; the leased project assets were therefore not outside the insolvency process. GNIDA was held disentitled to recover penal interest, penal charges and time-extension penalties because of its own delay and inaction, but it remained entitled to recalculated principal dues only, payable by the successful resolution applicants without interest during the payment period.
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