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Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
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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