Transfer pricing comparables selection and working capital adjustment u/r 10B(1)(e)(iii), remanded for recomputation with rejected comparables include...
Company oppression/mismanagement petition amendments and maintainability after alleged share transfer and forgery claims; tribunal order quashed for l...
The HC dismissed the application seeking condonation of 116 days' delay in filing an appeal under S.42 PMLA. It held that, read with S.29(2) Limitation Act, the statutory scheme under S.42 PMLA prescribes a maximum outer limit of 120 days (60 days plus a further 60 days) for filing an appeal, expressly excluding the application of S.5 Limitation Act beyond this period. Relying on analogous SC precedents under the Electricity Act and the Arbitration and Conciliation Act, the HC concluded it lacks jurisdiction to condone delay beyond 120 days, rendering the appeal time-barred.
The HC dismissed the application seeking condonation of 116 days' delay in filing an appeal under S.42 PMLA. It held that, read with S.29(2) Limitation Act, the statutory scheme under S.42 PMLA prescribes a maximum outer limit of 120 days (60 days plus a further 60 days) for filing an appeal, expressly excluding the application of S.5 Limitation Act beyond this period. Relying on analogous SC precedents under the Electricity Act and the Arbitration and Conciliation Act, the HC concluded it lacks jurisdiction to condone delay beyond 120 days, rendering the appeal time-barred.
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