Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Rule 87A(4)(c) of the NCLT Rules gives the Tribunal discretion to award costs occasioned by restoration proceedings; it does not require costs in every matter. Because costs have penal consequences, their necessity and amount require a reasoned assessment of the relevant facts and actual expenditure. The notes state that the orders relied only on the Registrar of Companies' request without determining or justifying expenditure. Where the Income Tax Department sought restoration to complete pending statutory assessment proceedings, the Registrar's facilitation costs could not be imposed on it. The cost directions were quashed and amounts already remitted were to be refunded, while restoration of the companies remained unaffected.
Rule 87A(4)(c) of the NCLT Rules gives the Tribunal discretion to award costs occasioned by restoration proceedings; it does not require costs in every matter. Because costs have penal consequences, their necessity and amount require a reasoned assessment of the relevant facts and actual expenditure. The notes state that the orders relied only on the Registrar of Companies' request without determining or justifying expenditure. Where the Income Tax Department sought restoration to complete pending statutory assessment proceedings, the Registrar's facilitation costs could not be imposed on it. The cost directions were quashed and amounts already remitted were to be refunded, while restoration of the companies remained unaffected.
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