Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
VAT - Highlights / Catch Notes

Home Highlights September 2022 Year 2022 This

Non-disbursal of loan due to tax default - Since the ...

Case Laws     VAT and Sales Tax

September 5, 2022

Non-disbursal of loan due to tax default - Since the disbursement of loan was based on the public money, considering the public interest and that of the Bank, withheld the loan granted to the petitioner, if the petitioner is able to provide equal alternate property as security without any encumbrance, the same can be considered, with the present property, the loan cannot be disbursed. - HC

View Source

 


 

You may also like:

  1. CIRP Proceedings - Loans by financial institutions are granted from public money generated at the tax payers expense. Such loan does not become the property of the...

  2. The Appellant challenged the admission of the Section 7 application filed by the Financial Creditor, contending no debt was due as the application was premature. The...

  3. The Corporate Debtor denied the existence of a loan agreement with 12% interest, as claimed by the Financial Creditor in the Section 7 application. To qualify as a...

  4. Penalty u/s 271D & 271E - default committed in violation of section 269SS & 269T - Reliance on search proceeding documents - Transactions being mere book entries -...

  5. The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

  6. Initiation of CIRP - NCLT admitted the application - The event of default had not occurred with Principal Loan, the event of default did occur for Additional Loan and...

  7. Non-payment of tax for Assessment Years 2005-06 and 2006-07 - Liability to pay interest u/s 234B. Prior to the insertion of proviso to Section 209(1), if the payer...

  8. Registration u/s 12A and approval u/s 80G(5) earlier granted were withdrawn citing grounds like money laundering, loan default, TDS shortfall, delayed PF/ESIC payments,...

  9. Initiation of CIRP - Financial Creditors - There is no denial of transfer of the amount by Bank transfer in the account of the Corporate Debtor. When disbursement of the...

  10. The Public Notice issued by the Office of Principal Commissioner of Customs addresses the non-disbursal of Drawback to certain exporters due to their bank account...

  11. Unexplained unsecured loans - the assessee in reply had submitted that the contract can be either verbal or written and simply non availability of a written contract...

  12. Penalty u/s 221 r.w.s. 140A - default of non-payment of taxes on due date - Provisions of Section 140A (3) can apply only when there is a self-assessment tax payable...

  13. Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

  14. The CD defaulted on loan repayment from January 2020, failing to pay the monthly installment due on 20th January 2020. Though partial payment was made in February 2020,...

  15. Deemed dividend u/s 2(22)(e) is not taxable in the hands of the assessee company if it is not a shareholder in the companies that extended loans. It is chargeable to tax...

 

Quick Updates:Latest Updates