ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
AT held that allegations that the appellant filed a false FIR, obtained clients' trading account details and executed trades on their behalf with improper risk profiling, and accepted cash payments were proved. The appellant's failure to inform the Board under Regulation 13(b) of the material change was thereby established in relation to the false FIR. The AT found the appellant liable under Section 15HA only and, having considered the facts and admissions, reduced the quantum of monetary penalty as sufficient to meet the ends of justice, without imposing additional statutory penalties.
AT held that allegations that the appellant filed a false FIR, obtained clients' trading account details and executed trades on their behalf with improper risk profiling, and accepted cash payments were proved. The appellant's failure to inform the Board under Regulation 13(b) of the material change was thereby established in relation to the false FIR. The AT found the appellant liable under Section 15HA only and, having considered the facts and admissions, reduced the quantum of monetary penalty as sufficient to meet the ends of justice, without imposing additional statutory penalties.
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