Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
