Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
Pandemic-related disruption, a plausible bona fide belief about return-filing obligations, and subsequent participation in assessment proceedings are identified as reasonable cause for non-compliance with statutory notices by an educational trust. The note states that mere non-compliance, without independent material showing deliberate or wilful disregard, does not justify penalty. It further describes penalty provisions as quasi-criminal and inapplicable to technical or venial defaults where surrounding circumstances establish reasonable cause. On these grounds, the penalty for non-compliance with statutory notices was described as unsustainable and deleted.
Pandemic-related disruption, a plausible bona fide belief about return-filing obligations, and subsequent participation in assessment proceedings are identified as reasonable cause for non-compliance with statutory notices by an educational trust. The note states that mere non-compliance, without independent material showing deliberate or wilful disregard, does not justify penalty. It further describes penalty provisions as quasi-criminal and inapplicable to technical or venial defaults where surrounding circumstances establish reasonable cause. On these grounds, the penalty for non-compliance with statutory notices was described as unsustainable and deleted.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
