MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
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.
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