Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
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Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Binding interim judicial directions restrained deduction of tax at source on Leave Fare Concession payments, so the assessee bank could not be treated as an assessee in default for that earlier period. Although the exemption issue on foreign travel had been concluded against the assessee on merits by the Supreme Court, the Tribunal held that section 201(1) could not be invoked while the assessee was complying with the interim restraint order. The consequential interest under section 201(1A) also could not survive. Applying the same reasoning to an identical second appeal, the Tribunal held both demands unsustainable and allowed both appeals.
Binding interim judicial directions restrained deduction of tax at source on Leave Fare Concession payments, so the assessee bank could not be treated as an assessee in default for that earlier period. Although the exemption issue on foreign travel had been concluded against the assessee on merits by the Supreme Court, the Tribunal held that section 201(1) could not be invoked while the assessee was complying with the interim restraint order. The consequential interest under section 201(1A) also could not survive. Applying the same reasoning to an identical second appeal, the Tribunal held both demands unsustainable and allowed both appeals.
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