Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The Madhya Pradesh High Court examined the scope of judicial review u/s 212(1)(c) of the Companies Act, 2013 regarding the Central Government's sanction for an investigation by the SFIO. The court held that SFIO investigation on transactions already addressed u/s 66 of the IBC would amount to double jeopardy. It emphasized the necessity of public interest for such investigations and found no such element in this case. The court noted that the company's functions were halted due to CIRP and pending liquidation, indicating no public interest or prima facie case for the investigation. The court ruled the sanction as arbitrary, illegal, and lacking a reasoned order, thus setting it aside and quashing any actions taken based on it.
The Madhya Pradesh High Court examined the scope of judicial review u/s 212(1)(c) of the Companies Act, 2013 regarding the Central Government's sanction for an investigation by the SFIO. The court held that SFIO investigation on transactions already addressed u/s 66 of the IBC would amount to double jeopardy. It emphasized the necessity of public interest for such investigations and found no such element in this case. The court noted that the company's functions were halted due to CIRP and pending liquidation, indicating no public interest or prima facie case for the investigation. The court ruled the sanction as arbitrary, illegal, and lacking a reasoned order, thus setting it aside and quashing any actions taken based on it.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
