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...
Transfer-pricing methodology protects commercially genuine associated-enterprise payments, while pre-2016 secondary adjustments and related notional i...
Negative liens over operating assets can constitute international transactions requiring arm's-length pricing reflecting restricted borrowing and expa...
Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
NCLAT determined that failure to file Board Reports for FY 2010-11 and 2013-14 constituted continuing offences under s.220 of Companies Act, 1956. While appellants admitted default in filing with ROC, evidence showed reports were circulated to shareholders timely with no prejudice to stakeholders. Considering the inadvertent nature of omission, self-disclosure by appellant, and comparable precedents, NCLAT modified the penalty structure. The tribunal reduced compounding fees to Rs.50 per day of continuing default for both company and directors, finding original penalty excessive. The appeal succeeded with modified penalties applied under s.220 read with s.162 of Companies Act, 1956.
NCLAT determined that failure to file Board Reports for FY 2010-11 and 2013-14 constituted continuing offences under s.220 of Companies Act, 1956. While appellants admitted default in filing with ROC, evidence showed reports were circulated to shareholders timely with no prejudice to stakeholders. Considering the inadvertent nature of omission, self-disclosure by appellant, and comparable precedents, NCLAT modified the penalty structure. The tribunal reduced compounding fees to Rs.50 per day of continuing default for both company and directors, finding original penalty excessive. The appeal succeeded with modified penalties applied under s.220 read with s.162 of Companies Act, 1956.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
