Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
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HC dismisses petitions seeking quashment of criminal proceedings against anonymized accused arising from IPO-related misconduct, holding that a SEBI consent order and payments of disgorgement/settlement fees do not extinguish or bar prosecution. The court finds allegations disclose prima facie criminality and deliberate intent to obtain unjust enrichment, adversely affecting retail investors and the securities market; such societal and economic offences cannot be neutralized by regulator-set settlements. Exercising jurisdiction under Section 482 CrPC/Article 227 does not warrant quashing where offences implicate public interest and criminal intent. Accordingly, the consent order and monetary restitution to SEBI do not affect or preclude continuation of prosecutions, and the petitions are dismissed.
HC dismisses petitions seeking quashment of criminal proceedings against anonymized accused arising from IPO-related misconduct, holding that a SEBI consent order and payments of disgorgement/settlement fees do not extinguish or bar prosecution. The court finds allegations disclose prima facie criminality and deliberate intent to obtain unjust enrichment, adversely affecting retail investors and the securities market; such societal and economic offences cannot be neutralized by regulator-set settlements. Exercising jurisdiction under Section 482 CrPC/Article 227 does not warrant quashing where offences implicate public interest and criminal intent. Accordingly, the consent order and monetary restitution to SEBI do not affect or preclude continuation of prosecutions, and the petitions are dismissed.
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