Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Corporate guarantee commission was allocated only in part where the guarantee to the foreign associated enterprise's lenders was jointly furnished by the assessee and its subsidiary; on that basis, only 0.25% was attributable to the assessee. Interest disallowance on borrowed capital was not sustained for non-interest-bearing advances to AAIPL because the advances were made in the course of the real estate business and the decision to waive interest was commercially expedient to protect business interests and principal exposure. The same commercial expediency principle applied to advances to SCA LLP after the assessee became the majority partner with management control, making the funding commercially driven and not a basis for disallowing corresponding interest.
Corporate guarantee commission was allocated only in part where the guarantee to the foreign associated enterprise's lenders was jointly furnished by the assessee and its subsidiary; on that basis, only 0.25% was attributable to the assessee. Interest disallowance on borrowed capital was not sustained for non-interest-bearing advances to AAIPL because the advances were made in the course of the real estate business and the decision to waive interest was commercially expedient to protect business interests and principal exposure. The same commercial expediency principle applied to advances to SCA LLP after the assessee became the majority partner with management control, making the funding commercially driven and not a basis for disallowing corresponding interest.
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