Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
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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