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...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
The AT allowed the appeal, holding the impugned monetary penalty order violated principles of natural justice for failure to effect valid service on the appellant. The tribunal found prima facie evidence that a third party (the employer) operated bank and demat accounts and facilitated accommodation entries and manipulative trades, but concluded the appellant was not afforded an opportunity to be heard. The AT therefore set aside the impugned order and remitted the matter to the Regulator with a direction to provide the appellant a fresh, lawful opportunity of hearing before passing any fresh adjudicatory order under the PFUTP Regulations.
The AT allowed the appeal, holding the impugned monetary penalty order violated principles of natural justice for failure to effect valid service on the appellant. The tribunal found prima facie evidence that a third party (the employer) operated bank and demat accounts and facilitated accommodation entries and manipulative trades, but concluded the appellant was not afforded an opportunity to be heard. The AT therefore set aside the impugned order and remitted the matter to the Regulator with a direction to provide the appellant a fresh, lawful opportunity of hearing before passing any fresh adjudicatory order under the PFUTP Regulations.
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