Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
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The AT upheld SEBI's discretion to levy interest on outstanding registration fees as per Regulation 5 of Schedule-III of Stockbrokers Regulations, 2002, which mandatorily provides for charging 15% interest. The AT ruled that SEBI had no discretion in charging interest, which is compensatory in nature. It directed SEBI to credit interest at 15% p.a. for the brief period from September 6, 2003 to October 1, 2003 when the appellant had a credit balance, but dismissed other claims regarding interest calculation since the appellant had already received credit for interest from 2006 to 2019.
The AT upheld SEBI's discretion to levy interest on outstanding registration fees as per Regulation 5 of Schedule-III of Stockbrokers Regulations, 2002, which mandatorily provides for charging 15% interest. The AT ruled that SEBI had no discretion in charging interest, which is compensatory in nature. It directed SEBI to credit interest at 15% p.a. for the brief period from September 6, 2003 to October 1, 2003 when the appellant had a credit balance, but dismissed other claims regarding interest calculation since the appellant had already received credit for interest from 2006 to 2019.
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