Jurisdictional sanction requirements bar reassessment when approval comes from an authority lacking statutory competence under the applicable framewor...
Recorded sales receipts cannot be reassessed as unexplained cash credits, eliminating the basis for consequential alleged commission expenditure addit...
Sufficient cause for delayed income-tax appeals requires bona fide diligence; unsubstantiated counsel illness and assessee inaction defeat condonation...
TNMM Segmentation Limits Transfer-Pricing Adjustments to Associated-Enterprise Transactions and Requires Turnover-Based Comparable Selection for IT Se...
SAT upheld SEBI's order directing PACL to refund over Rs. 49,000 crore collected through illegal collective investment schemes. Key legal principles: PACL's activities violated SEBI CIS Regulations as it mobilized huge sums without regulatory approval. PACL failed to prove its business model was legitimate. SAT rejected PACL's arguments and upheld SEBI's directions to wind up schemes and refund investors.
SAT upheld SEBI's order directing PACL to refund over Rs. 49,000 crore collected through illegal collective investment schemes. Key legal principles: PACL's activities violated SEBI CIS Regulations as it mobilized huge sums without regulatory approval. PACL failed to prove its business model was legitimate. SAT rejected PACL's arguments and upheld SEBI's directions to wind up schemes and refund investors.
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TaxTMI 
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