Gross-profit additions on disputed purchases require reasoned appellate determination; disclosed claims alone do not support inaccurate-particulars pe...
Limitation after transfer-pricing remand: fresh TPO reference did not extend the assessment deadline, rendering the consequential assessment time-barr...
Interim judicial restraint on tax deduction prevents default, while supporting reasonable cause and penalty deletion for foreign-leg LFC reimbursement...
Palmolein classification defeated the crude-oil concession; material misdeclaration sustained recovery and confiscation, while separate false-document...
Secured creditors must clearly and timely elect to realise a security interest outside the liquidation estate; merely recording a security interest in Form D does not communicate that election. An email sent after a compromise scheme fails cannot retrospectively cure non-compliance with Regulation 21A. Participation and voting in the Stakeholders' Consultation Committee are relevant, while consideration of a scheme under the Companies Act neither suspends nor extends the election period. Consequently, without a valid timely election, hypothecated assets remain in the liquidation estate and cannot be realised independently.
Secured creditors must clearly and timely elect to realise a security interest outside the liquidation estate; merely recording a security interest in Form D does not communicate that election. An email sent after a compromise scheme fails cannot retrospectively cure non-compliance with Regulation 21A. Participation and voting in the Stakeholders' Consultation Committee are relevant, while consideration of a scheme under the Companies Act neither suspends nor extends the election period. Consequently, without a valid timely election, hypothecated assets remain in the liquidation estate and cannot be realised independently.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4907 
