PDIT Vs Laljibhai Kanjibhai Mandalia (Supreme Court of India) Held that, in terms of the explanation inserted by the Finance Act, 2017 with retrospective effect from 1.4.1962, search conducted on the reason to believe is not required to be disclosed to any person or any authority or the appellate tribunal. Facts- The assessee provide loan […]
Held that conjoint reading of section 33 of IBC with section 16 of the General Clauses Act, 1897 would show that the authority which has power to appoint a person, equally has the power to suspend or dismiss that person.
Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the Applicant should be treated any differently. Bail granted
Held that even after amendment to the object clause, there is absolutely no change to the purpose and object of the trust. Cancellation of the registration granted u/s 12A unjustified.
Held that Appellant lost the ownership of the goods as soon as let export order was issued and hence Appellant cannot be held responsible if the importer situated at Iran had given instruction to change the port.
Held that assessee can claim remaining 50% depreciation in subsequent year in case where machinery and plant being acquired and put to use for less than 180 days in the previous year, the depreciation was restricted to 50%.
Held that if an offence committed by the firm, is also an offence committed by the partners, it cannot be bifurcated as partners and the firm
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