Service of notice and contractual debt acknowledgment preserved insolvency admission against a corporate guarantor despite limitation and natural just...
Original works exemption excludes standalone boulder transportation, leaving subcontracted railway-project transport services subject to service tax l...
Annual production capacity determinations excluding stenter galleries support refunds for unconstitutional excise levies without an unjust-enrichment ...
Violation of the provisions of Sections 269SS and 269T - scope of the term "loan" and "deposit" - Penalty u/s 271D and 271E - amount received on account of share application money and repayment - The High court observed that share application money is for participation in the capital of the company and is neither repayable after notice nor after a period. - The High court ruled that share application money does not constitute a loan or deposit as defined in the Act. Hence, the provisions of Sections 269SS and 269T do not apply, and no penalties under Sections 271D and 271E can be imposed.
Violation of the provisions of Sections 269SS and 269T - scope of the term "loan" and "deposit" - Penalty u/s 271D and 271E - amount received on account of share application money and repayment - The High court observed that share application money is for participation in the capital of the company and is neither repayable after notice nor after a period. - The High court ruled that share application money does not constitute a loan or deposit as defined in the Act. Hence, the provisions of Sections 269SS and 269T do not apply, and no penalties under Sections 271D and 271E can be imposed.
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