Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
The HC declined to initiate contempt proceedings, holding that although the Respondent breached the court-recorded undertaking pursuant to the settlement, the shortfall (approximately Rs.70-75 lakh of Rs.5.45 crore) principally stems from financial incapacity rather than wilful and contumacious disobedience; consequently, the threshold for criminal standard contempt under Section 2(b) of the Contempt of Courts Act, 1971, is not met. The Respondent is granted until 31.12.2025 to pay the outstanding principal with 12% interest as per the undertaking; failure to comply will entitle the Complainants to pursue execution of the undertaking. Petition disposed.
The HC declined to initiate contempt proceedings, holding that although the Respondent breached the court-recorded undertaking pursuant to the settlement, the shortfall (approximately Rs.70-75 lakh of Rs.5.45 crore) principally stems from financial incapacity rather than wilful and contumacious disobedience; consequently, the threshold for criminal standard contempt under Section 2(b) of the Contempt of Courts Act, 1971, is not met. The Respondent is granted until 31.12.2025 to pay the outstanding principal with 12% interest as per the undertaking; failure to comply will entitle the Complainants to pursue execution of the undertaking. Petition disposed.
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