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...
HC reviewed a petition challenging the classification of a corporate entity as a 'fraud' based on non-payment of institutional loans. The court found the bank's grounds for classification unsustainable, noting the company's balance sheets demonstrated substantial cash accruals and transactions. The court held that grounds previously rejected for 'wilful defaulter' status cannot form the basis for 'fraud' classification without additional independent material. The court emphasized that declaring an account as 'fraud' requires a higher degree of criminality. Consequently, the HC quashed the bank's fraud classification, ruling the action arbitrary, unfair, and legally untenable, and corrected minor typographical errors in the original judgment.
HC reviewed a petition challenging the classification of a corporate entity as a 'fraud' based on non-payment of institutional loans. The court found the bank's grounds for classification unsustainable, noting the company's balance sheets demonstrated substantial cash accruals and transactions. The court held that grounds previously rejected for 'wilful defaulter' status cannot form the basis for 'fraud' classification without additional independent material. The court emphasized that declaring an account as 'fraud' requires a higher degree of criminality. Consequently, the HC quashed the bank's fraud classification, ruling the action arbitrary, unfair, and legally untenable, and corrected minor typographical errors in the original judgment.
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