Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
The case pertains to the prohibition of benami property transactions and the applicability of amended provisions introduced by the Amending Act of 2016 to the Benami Transactions (Prohibition) Act, 1988. The key points are: The Initiating Officer (I.O.) attached an agricultural land, alleging it to be a benami transaction, but could not identify the beneficial owner. The Adjudicating Authority treated the transaction as falling u/s 2(9A) of the amended Act, despite it being prior to the 2016 amendment. The Supreme Court has clarified that the amended provisions have prospective application. Transactions prior to November 1, 2016, not covered by Section 2(9A) of the amended Act, are governed by the judgment in Union of India & Anr. vs. M/s. Ganpati Dealcom Pvt. Ltd. An exception may apply if the case falls u/s 2(9A) of the amended definition, as per the Appellate Tribunal's judgment in M/s. Prism Scan Express Pvt. Ltd.
The case pertains to the prohibition of benami property transactions and the applicability of amended provisions introduced by the Amending Act of 2016 to the Benami Transactions (Prohibition) Act, 1988. The key points are: The Initiating Officer (I.O.) attached an agricultural land, alleging it to be a benami transaction, but could not identify the beneficial owner. The Adjudicating Authority treated the transaction as falling u/s 2(9A) of the amended Act, despite it being prior to the 2016 amendment. The Supreme Court has clarified that the amended provisions have prospective application. Transactions prior to November 1, 2016, not covered by Section 2(9A) of the amended Act, are governed by the judgment in Union of India & Anr. vs. M/s. Ganpati Dealcom Pvt. Ltd. An exception may apply if the case falls u/s 2(9A) of the amended definition, as per the Appellate Tribunal's judgment in M/s. Prism Scan Express Pvt. Ltd.
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