Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Wilful misconduct - Scope of judicial review limited - Seeking removal of Resolution Professional, providing documents for objections to Resolution plan, disqualifying proposed Resolution applicant, and action against petitioner for alleged fraudulent transactions - Court held that once Resolution Professional found guilty of breach, there was no occasion for the Board to take a lenient view, especially as violations went to the root of the matter - Court cannot reappraise facts as if sitting in appeal, merely because alternate punishment seems more appropriate - Resolution Professional cautioned and warned to be careful in future, with repetition treated as willful negligence - Clarified that Insolvency and Bankruptcy Code allows single-member Disciplinary Committee - No infirmity or irregularity in constitution of single-member Committee, no malafide alleged - No merit in argument that petitioners should have been afforded personal hearing by Disciplinary Committee prior to decision on complaint - Petition disposed of.
Wilful misconduct - Scope of judicial review limited - Seeking removal of Resolution Professional, providing documents for objections to Resolution plan, disqualifying proposed Resolution applicant, and action against petitioner for alleged fraudulent transactions - Court held that once Resolution Professional found guilty of breach, there was no occasion for the Board to take a lenient view, especially as violations went to the root of the matter - Court cannot reappraise facts as if sitting in appeal, merely because alternate punishment seems more appropriate - Resolution Professional cautioned and warned to be careful in future, with repetition treated as willful negligence - Clarified that Insolvency and Bankruptcy Code allows single-member Disciplinary Committee - No infirmity or irregularity in constitution of single-member Committee, no malafide alleged - No merit in argument that petitioners should have been afforded personal hearing by Disciplinary Committee prior to decision on complaint - Petition disposed of.
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