Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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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