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...
Attachment of Pre Offence Mortgaged Property remains possible under PMLA; secured creditors may pursue statutory claim and seek auction with undertaki...
A personal guarantor's Section 94 application, filed after an e-auction had been held and confirmed under SARFAESI, was found to be a non-bona fide attempt to delay recovery rather than a genuine insolvency resolution step. The Tribunal held that the filing was an abuse of process because the bank had already enforced its security rights and the guarantor had also pursued a separate challenge before the DRT, which was the appropriate remedy. The rejection of the applications was therefore upheld, and the appellant was left to continue contesting the auction before the DRT.
A personal guarantor's Section 94 application, filed after an e-auction had been held and confirmed under SARFAESI, was found to be a non-bona fide attempt to delay recovery rather than a genuine insolvency resolution step. The Tribunal held that the filing was an abuse of process because the bank had already enforced its security rights and the guarantor had also pursued a separate challenge before the DRT, which was the appropriate remedy. The rejection of the applications was therefore upheld, and the appellant was left to continue contesting the auction before the DRT.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
