Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Recovery proceedings by SEBI - Maintainability of provisions of IBC over the provisions of the SEBI Act - The High Court affirmed the decision of the Single Judge, stating that no moratorium was in force during the relevant period. Thus, SEBI's issuance of the impugned certificate was justified. It held that the provisions of IBC do not override SEBI regulations, particularly in cases where no moratorium exists. The High Court did not delve into the question of whether the levy by SEBI constituted a fine or a penalty, leaving it open for consideration in future proceedings. Ultimately, the appeal was dismissed, and no costs were awarded.
Recovery proceedings by SEBI - Maintainability of provisions of IBC over the provisions of the SEBI Act - The High Court affirmed the decision of the Single Judge, stating that no moratorium was in force during the relevant period. Thus, SEBI's issuance of the impugned certificate was justified. It held that the provisions of IBC do not override SEBI regulations, particularly in cases where no moratorium exists. The High Court did not delve into the question of whether the levy by SEBI constituted a fine or a penalty, leaving it open for consideration in future proceedings. Ultimately, the appeal was dismissed, and no costs were awarded.
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