Charitable trust registration requires a specified-violation notice; settled cash deposits and related-party payments did not justify cancellation or ...
External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
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The HC quashed the orders declaring the Petitioner as a Wilful Defaulter by Respondent No. 1 Bank. The Court held that the Master Circular on Wilful Defaulters issued by RBI requires strict adherence to principles of natural justice given the grave civil and penal consequences. The Petitioner was not provided substantial opportunity of being heard or documents relied upon, violating natural justice. The HC affirmed the maintainability of the petition against the Bank under Article 19(1)(g) of the Constitution as per the Supreme Court's decision in Jah Developers case. The statutory procedural mechanism under the Master Circular must be followed strictly.
The HC quashed the orders declaring the Petitioner as a Wilful Defaulter by Respondent No. 1 Bank. The Court held that the Master Circular on Wilful Defaulters issued by RBI requires strict adherence to principles of natural justice given the grave civil and penal consequences. The Petitioner was not provided substantial opportunity of being heard or documents relied upon, violating natural justice. The HC affirmed the maintainability of the petition against the Bank under Article 19(1)(g) of the Constitution as per the Supreme Court's decision in Jah Developers case. The statutory procedural mechanism under the Master Circular must be followed strictly.
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