Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The Board disposed of proceedings against the Noticee regarding liability for company's unauthorized issuance of Redeemable Preference Shares to public without compliance with Companies Act, 1956 and SEBI Act, 1992. The Board held that liability under Section 73(2) requires establishing the person as an "officer who is in default" per Section 5 of Companies Act, 1956, which includes managing directors, whole-time directors, managers, secretaries, or persons charged with statutory compliance responsibilities. Since the Final Order failed to identify any specific officer in default and record showed another individual as Managing Director during relevant period 2011-12, with no evidence of Noticee's involvement in RPS issuance or designation as responsible officer, the Board concluded Noticee could not be held liable for alleged contraventions and disposed of proceedings.
The Board disposed of proceedings against the Noticee regarding liability for company's unauthorized issuance of Redeemable Preference Shares to public without compliance with Companies Act, 1956 and SEBI Act, 1992. The Board held that liability under Section 73(2) requires establishing the person as an "officer who is in default" per Section 5 of Companies Act, 1956, which includes managing directors, whole-time directors, managers, secretaries, or persons charged with statutory compliance responsibilities. Since the Final Order failed to identify any specific officer in default and record showed another individual as Managing Director during relevant period 2011-12, with no evidence of Noticee's involvement in RPS issuance or designation as responsible officer, the Board concluded Noticee could not be held liable for alleged contraventions and disposed of proceedings.
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