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 adjudicated a bankruptcy proceeding involving a personal guarantor, determining the status of a regulatory penalty imposed by SEBI. The tribunal held that penalties of a regulatory nature fall under Section 79(15)(a) of the Insolvency and Bankruptcy Code, 2016, qualifying as an 'excluded debt' outside bankruptcy proceedings. The court interpreted Section 238 of the Code as providing overriding effect, thereby excluding such penalties from the moratorium under Section 96. Consequently, the SEBI penalty was deemed not recoverable through bankruptcy proceedings, maintaining the statutory intent of excluding fine-like monetary impositions from insolvency resolution mechanisms. The appeal was ultimately dismissed, affirming the lower court's interpretation of the regulatory penalty's legal status.
NCLAT adjudicated a bankruptcy proceeding involving a personal guarantor, determining the status of a regulatory penalty imposed by SEBI. The tribunal held that penalties of a regulatory nature fall under Section 79(15)(a) of the Insolvency and Bankruptcy Code, 2016, qualifying as an 'excluded debt' outside bankruptcy proceedings. The court interpreted Section 238 of the Code as providing overriding effect, thereby excluding such penalties from the moratorium under Section 96. Consequently, the SEBI penalty was deemed not recoverable through bankruptcy proceedings, maintaining the statutory intent of excluding fine-like monetary impositions from insolvency resolution mechanisms. The appeal was ultimately dismissed, affirming the lower court's interpretation of the regulatory penalty's legal status.
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