Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Validity of SEBI Settlement Proceedings Regulations, specifically Regulations 6(1)(f) and 13(2)(ba) of the SEBI (Settlement Proceedings) Regulations, 2018. It examines allegations against noticees of acting in concert while acquiring shares without required disclosures, creating false trading appearances, and manipulative trading practices. The court held that the allegations in the show cause notice, if proven, are grave. It observed that the petitioners' objective was to stall adjudication proceedings by filing settlement applications and refusing to cooperate. The court rejected arguments of excessive delegation and manifest arbitrariness in the Regulations, stating they conform to the parent Acts and do not lack logical consistency or determining principles. It upheld the rejection of the petitioners' settlement proposal, finding the conditions imposed reasonable considering the allegations. The court criticized attempts to stall proceedings through constitutional challenges and interim relief pleas, emphasizing a pragmatic approach balancing defaulters' and public interests.
Validity of SEBI Settlement Proceedings Regulations, specifically Regulations 6(1)(f) and 13(2)(ba) of the SEBI (Settlement Proceedings) Regulations, 2018. It examines allegations against noticees of acting in concert while acquiring shares without required disclosures, creating false trading appearances, and manipulative trading practices. The court held that the allegations in the show cause notice, if proven, are grave. It observed that the petitioners' objective was to stall adjudication proceedings by filing settlement applications and refusing to cooperate. The court rejected arguments of excessive delegation and manifest arbitrariness in the Regulations, stating they conform to the parent Acts and do not lack logical consistency or determining principles. It upheld the rejection of the petitioners' settlement proposal, finding the conditions imposed reasonable considering the allegations. The court criticized attempts to stall proceedings through constitutional challenges and interim relief pleas, emphasizing a pragmatic approach balancing defaulters' and public interests.
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