Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Annulment of a securities trade ends the transaction and makes subsequent physical delivery of the shares purposeless where the shares have been returned to the selling member. The purchaser is entitled to recover the purchase consideration with interest from the Exchange, rather than pursue trading-loss damages. The selling member is not a necessary party because the settlement mechanism creates no direct buyer-seller contract requiring relief against that member after annulment; arbitration and closing-out remedies are therefore inapplicable. An indemnity limited to dispute-resolution references does not grant the Exchange general immunity, and Clearing House non-liability provisions concerning title or validity of securities do not bar refund liability arising from annulment.
Annulment of a securities trade ends the transaction and makes subsequent physical delivery of the shares purposeless where the shares have been returned to the selling member. The purchaser is entitled to recover the purchase consideration with interest from the Exchange, rather than pursue trading-loss damages. The selling member is not a necessary party because the settlement mechanism creates no direct buyer-seller contract requiring relief against that member after annulment; arbitration and closing-out remedies are therefore inapplicable. An indemnity limited to dispute-resolution references does not grant the Exchange general immunity, and Clearing House non-liability provisions concerning title or validity of securities do not bar refund liability arising from annulment.
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