Educational approval requires mandatory State registration, but incidental surplus and trustee-owned land do not prove private benefit or profit motiv...
Judicial review of settlement orders cannot reopen settled customs notices, while statutory interest remains subject to verification and quantificatio...
Customs Broker licence lending for consideration justified revocation where exporter authorisation and client verification obligations were also breac...
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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