Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
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A mortgage executed years after the underlying debenture arrangement was held to be a preferential transaction because it created a perfected security interest only within the look-back period and improved the creditor's position in insolvency. The Tribunal rejected the argument that the deed merely perfected an earlier contractual promise, noting that no enforceable mortgage had been created for nearly seven years, prior charges had already been created in favour of other lenders, and the later deed was a fresh arrangement creating only a second charge without fresh finance. The ordinary-course-of-business exception was also rejected, and the discharge of the security interest was affirmed.
A mortgage executed years after the underlying debenture arrangement was held to be a preferential transaction because it created a perfected security interest only within the look-back period and improved the creditor's position in insolvency. The Tribunal rejected the argument that the deed merely perfected an earlier contractual promise, noting that no enforceable mortgage had been created for nearly seven years, prior charges had already been created in favour of other lenders, and the later deed was a fresh arrangement creating only a second charge without fresh finance. The ordinary-course-of-business exception was also rejected, and the discharge of the security interest was affirmed.
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