Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
The HC held that the impugned order dated 16.04.2024 is set aside for noncompliance with Section 73 and Rule 142(1)(a) and for violation of the principles of natural justice under Section 75(4). The court found that a DRC-01 summary cannot substitute a proper Show Cause Notice; a distinct SCN and, where issued, a Statement under Section 73(3) are mandatory, and Section 73(2)'s timing requirements must be observed. Because the Proper Officer proceeded without affording an effective hearing, the adverse order was invalid. The petition is allowed; respondents are granted liberty to initiate fresh proceedings de novo under Section 73 if deemed appropriate.
The HC held that the impugned order dated 16.04.2024 is set aside for noncompliance with Section 73 and Rule 142(1)(a) and for violation of the principles of natural justice under Section 75(4). The court found that a DRC-01 summary cannot substitute a proper Show Cause Notice; a distinct SCN and, where issued, a Statement under Section 73(3) are mandatory, and Section 73(2)'s timing requirements must be observed. Because the Proper Officer proceeded without affording an effective hearing, the adverse order was invalid. The petition is allowed; respondents are granted liberty to initiate fresh proceedings de novo under Section 73 if deemed appropriate.
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