Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
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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.
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