Blocked input tax credit for resort construction remains unavailable; interest follows actual utilisation, while delayed payment attracts statutory pe...
Duplicate PAN allocation requires record verification and deactivation reasons before assessment-related transactions can be attributed to an assessee...
Faceless assessment safeguards require requested personal hearings and adequate final show-cause response time, failing which reassessment is required...
Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
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Section 6(3) of FEMA continued to govern foreign-remittance contraventions committed while it was in force despite its subsequent omission. Delayed reporting of foreign investment and delayed share allotment constitute civil regulatory breaches for which liability does not require mens rea unless the statute so provides; later compliance and claimed bona fides do not make the defaults technical. Confiscation under FEMA is discretionary and additional to monetary penalty, requiring a fact-based judicial assessment, including misuse of remittances in a restricted real-estate sector. Director liability depends on responsibility for company affairs: liability does not attach without proof of control, but may attach where managerial responsibility, knowledge, or lack of due diligence is established.
Section 6(3) of FEMA continued to govern foreign-remittance contraventions committed while it was in force despite its subsequent omission. Delayed reporting of foreign investment and delayed share allotment constitute civil regulatory breaches for which liability does not require mens rea unless the statute so provides; later compliance and claimed bona fides do not make the defaults technical. Confiscation under FEMA is discretionary and additional to monetary penalty, requiring a fact-based judicial assessment, including misuse of remittances in a restricted real-estate sector. Director liability depends on responsibility for company affairs: liability does not attach without proof of control, but may attach where managerial responsibility, knowledge, or lack of due diligence is established.
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