Business expenditure and depreciation rules allow operational outgoings while limiting disallowances for personal elements and unsupported third-party...
Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Liquidation-process amendments apply prospectively unless expressly made retrospective. A liquidation order fixing the liquidation commencement date and directing the liquidator to explore sale of the corporate debtor as a going concern initiates the governing process; later auction and sale steps merely implement it. A subsequent amendment therefore cannot alter rights and obligations under the regime applicable on that date. The Tribunal set aside retrospective application of the amendment and remanded consequential reliefs and concessions for fresh consideration according to law.
Liquidation-process amendments apply prospectively unless expressly made retrospective. A liquidation order fixing the liquidation commencement date and directing the liquidator to explore sale of the corporate debtor as a going concern initiates the governing process; later auction and sale steps merely implement it. A subsequent amendment therefore cannot alter rights and obligations under the regime applicable on that date. The Tribunal set aside retrospective application of the amendment and remanded consequential reliefs and concessions for fresh consideration according to law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4916 
