Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
Scientific research institution approval is conditional on SIRO recognition, annual donation reporting, donor certification, and prescribed compliance...
The AT partly allowed the appeal, upholding the findings of violations relating to absence of NISM certification of a director, delay in processing duplicate share certificates, and delay in transmission of securities, constituting contraventions of applicable SEBI regulations and circulars, thereby attracting liability under s.15HB of the SEBI Act. However, taking into account that the concerned director was 75 years old, plausibly not technologically adept, and that the other procedural lapses occurred during the Covid period, the AT held that the original monetary penalty was excessive. In exercise of appellate discretion, the AT reduced the penalty to Rs. 2,00,000, holding this sufficient to meet the ends of justice. All other directions and findings in the impugned order were affirmed. No order as to costs.
The AT partly allowed the appeal, upholding the findings of violations relating to absence of NISM certification of a director, delay in processing duplicate share certificates, and delay in transmission of securities, constituting contraventions of applicable SEBI regulations and circulars, thereby attracting liability under s.15HB of the SEBI Act. However, taking into account that the concerned director was 75 years old, plausibly not technologically adept, and that the other procedural lapses occurred during the Covid period, the AT held that the original monetary penalty was excessive. In exercise of appellate discretion, the AT reduced the penalty to Rs. 2,00,000, holding this sufficient to meet the ends of justice. All other directions and findings in the impugned order were affirmed. No order as to costs.
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TaxTMI 
TaxTMI 
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