Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
Simultaneous insolvency proceedings against a principal borrower and its corporate guarantor were held maintainable, so a status quo order in the borrower's case did not bar liquidation of the guarantor. A proposed settlement could not be used to resist liquidation after commencement of liquidation, because withdrawal under Section 12A is unavailable at that stage; any post-liquidation compromise must proceed through a Section 230 scheme. The tribunal also found no error in deciding an interlocutory application on merits despite the applicant's absence, as the rules permit dismissal for default or decision on merits. Liquidation was sustained on the unanimous CoC decision, absence of any resolution plan, and failure of settlement efforts.
Simultaneous insolvency proceedings against a principal borrower and its corporate guarantor were held maintainable, so a status quo order in the borrower's case did not bar liquidation of the guarantor. A proposed settlement could not be used to resist liquidation after commencement of liquidation, because withdrawal under Section 12A is unavailable at that stage; any post-liquidation compromise must proceed through a Section 230 scheme. The tribunal also found no error in deciding an interlocutory application on merits despite the applicant's absence, as the rules permit dismissal for default or decision on merits. Liquidation was sustained on the unanimous CoC decision, absence of any resolution plan, and failure of settlement efforts.
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