Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
AT dismissed the appeal seeking restitution and refund of trading losses allegedly caused by a technical glitch in the stock exchange trading system. The appellant, an experienced securities market participant, had executed the mandatory risk disclosure declaration under the applicable Master Circular, thereby acknowledging the inherent risks of electronic trading. AT noted SEBI's regulatory finding that the glitch was short-lived, with most gateways restored within minutes, and held that the appellant's contrary claim of a two-hour disruption required evidentiary proof. As the principal relief sought was compensatory damages of Rs. 53.13 lakhs, AT held such a tortious claim lies exclusively before a civil court of competent jurisdiction. Lacking jurisdiction to award damages, AT found the appeal devoid of merit and dismissed it.
AT dismissed the appeal seeking restitution and refund of trading losses allegedly caused by a technical glitch in the stock exchange trading system. The appellant, an experienced securities market participant, had executed the mandatory risk disclosure declaration under the applicable Master Circular, thereby acknowledging the inherent risks of electronic trading. AT noted SEBI's regulatory finding that the glitch was short-lived, with most gateways restored within minutes, and held that the appellant's contrary claim of a two-hour disruption required evidentiary proof. As the principal relief sought was compensatory damages of Rs. 53.13 lakhs, AT held such a tortious claim lies exclusively before a civil court of competent jurisdiction. Lacking jurisdiction to award damages, AT found the appeal devoid of merit and dismissed it.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
