Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
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Section 536(2) was construed as making post-petition dispositions voidable rather than automatically void, so the court could validate a bona fide transaction if it benefited the company or creditors. The first transaction was validated because the applicant showed no knowledge of the winding-up petition despite due diligence, paid above market value, used the proceeds to discharge creditors, and no fraud, taint, or undervaluation was proved. Alleged statutory dues did not defeat validation on the material before the court. The second transaction, being a private inter se transfer, was held outside the scope of the application and was not adjudicated.
Section 536(2) was construed as making post-petition dispositions voidable rather than automatically void, so the court could validate a bona fide transaction if it benefited the company or creditors. The first transaction was validated because the applicant showed no knowledge of the winding-up petition despite due diligence, paid above market value, used the proceeds to discharge creditors, and no fraud, taint, or undervaluation was proved. Alleged statutory dues did not defeat validation on the material before the court. The second transaction, being a private inter se transfer, was held outside the scope of the application and was not adjudicated.
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