Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Fraud-account classification requires a reasoned order showing due application of mind, although the reasons need not match the detail of a judicial judgment. The order identified grounds under the Fraud Master Circular and recorded audit findings on diversion of funds through an undisclosed account, related-party transactions, unjustified transfers and interest-free advances; it was therefore adequately reasoned. Natural justice was not breached because the petitioners had received and discussed the draft audit report, had opportunities to provide material, and received the final report with the show-cause notice. The HC dismissed the writ petition, upholding the fraud classification.
Fraud-account classification requires a reasoned order showing due application of mind, although the reasons need not match the detail of a judicial judgment. The order identified grounds under the Fraud Master Circular and recorded audit findings on diversion of funds through an undisclosed account, related-party transactions, unjustified transfers and interest-free advances; it was therefore adequately reasoned. Natural justice was not breached because the petitioners had received and discussed the draft audit report, had opportunities to provide material, and received the final report with the show-cause notice. The HC dismissed the writ petition, upholding the fraud classification.
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