Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
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The High Court dismissed the petition challenging the show cause notice issued by SEBI. The key findings were: the arguments of delay, laches, review, revisit, double jeopardy, and res judicata were not accepted to quash the notice at this stage, allowing petitioners to raise such defenses before SEBI. The Court found no non-application of mind by SEBI in issuing the notice based on the available material. SEBI agreed to provide certain information related to an earlier complaint within two weeks. Petitioners were granted four weeks after receiving that information to file their response to the show cause notice. The Court declined to interfere further, stating that fairness is a two-way process, and prolonging adjudication unnecessarily should be avoided. The extraordinary jurisdiction was not meant for stalling proceedings at every stage.
The High Court dismissed the petition challenging the show cause notice issued by SEBI. The key findings were: the arguments of delay, laches, review, revisit, double jeopardy, and res judicata were not accepted to quash the notice at this stage, allowing petitioners to raise such defenses before SEBI. The Court found no non-application of mind by SEBI in issuing the notice based on the available material. SEBI agreed to provide certain information related to an earlier complaint within two weeks. Petitioners were granted four weeks after receiving that information to file their response to the show cause notice. The Court declined to interfere further, stating that fairness is a two-way process, and prolonging adjudication unnecessarily should be avoided. The extraordinary jurisdiction was not meant for stalling proceedings at every stage.
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