Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
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Delayed reporting of foreign direct investment remittances, delayed allotment of shares and non-filing of FC-GPR constituted contraventions under FEMA and the applicable regulations on admitted facts, so the company's breach findings were upheld. A later RBI circular on late submission fees was held inapplicable because it was expressly prospective and the remittances predated it, so that plea failed. Liability of the individual directors was also sustained because the record showed they were responsible for share-allotment and regulatory compliance. The proceedings were treated as civil in nature, absence of mens rea did not bar penalty, but the amounts were reduced on proportionality grounds.
Delayed reporting of foreign direct investment remittances, delayed allotment of shares and non-filing of FC-GPR constituted contraventions under FEMA and the applicable regulations on admitted facts, so the company's breach findings were upheld. A later RBI circular on late submission fees was held inapplicable because it was expressly prospective and the remittances predated it, so that plea failed. Liability of the individual directors was also sustained because the record showed they were responsible for share-allotment and regulatory compliance. The proceedings were treated as civil in nature, absence of mens rea did not bar penalty, but the amounts were reduced on proportionality grounds.
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