GST offence classification determines whether arrest and bail restrictions apply, while continued custody requires an individualised necessity assessm...
Section 43B disallowance of interest liability converted into...
Binding precedent remains operative despite pending challenge, supporting deletion of interest disallowance when debt is converted into preference shares.
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Section 43B disallowance of interest liability converted into preference shares under a corporate debt restructuring arrangement was deleted. A High Court judgment affirming the relevant Tribunal approach retained its precedential value despite the Revenue's pending Special Leave Petition. Mere pendency of a challenge before the Supreme Court does not displace that judgment unless it is stayed, reversed, or modified. The Tribunal therefore sustained deletion of the disallowance and dismissed the Revenue's appeal.
Section 43B disallowance of interest liability converted into preference shares under a corporate debt restructuring arrangement was deleted. A High Court judgment affirming the relevant Tribunal approach retained its precedential value despite the Revenue's pending Special Leave Petition. Mere pendency of a challenge before the Supreme Court does not displace that judgment unless it is stayed, reversed, or modified. The Tribunal therefore sustained deletion of the disallowance and dismissed the Revenue's appeal.
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