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...
An operative bankruptcy order triggered the statutory travel restriction under the Insolvency and Bankruptcy Code, so the bankrupt could not travel abroad without permission of the Adjudicating Authority. The Court distinguished this consequence from impounding under the Passports Act, holding that the Bankruptcy Trustee's communications merely conveyed the existing legal restriction and did not amount to unlawful passport seizure. It also held that the Trustee acted within statutory duties in securing compliance with the bankruptcy process, and that the petitioner had an efficacious remedy before the NCLT, including seeking permission to travel. The writ petition was dismissed as an attempt to bypass the statutory mechanism.
An operative bankruptcy order triggered the statutory travel restriction under the Insolvency and Bankruptcy Code, so the bankrupt could not travel abroad without permission of the Adjudicating Authority. The Court distinguished this consequence from impounding under the Passports Act, holding that the Bankruptcy Trustee's communications merely conveyed the existing legal restriction and did not amount to unlawful passport seizure. It also held that the Trustee acted within statutory duties in securing compliance with the bankruptcy process, and that the petitioner had an efficacious remedy before the NCLT, including seeking permission to travel. The writ petition was dismissed as an attempt to bypass the statutory mechanism.
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