SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
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 
TaxTMI 
of 4879 
