Tax determination against deceased proprietor invalid where no notice to legal representative; appeal rejected without addressing jurisdictional defec...
Revocation of GST registration and permission to file blocked returns; conditional defreezing of bank accounts after security and instalment applicati...
Right to access seized electronic evidence: impugned adjudication treated as additional show cause notice, remand for fresh hearing and return of mate...
Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Whether RBI's permission for allotment of shares to a non-resident against import of second-hand capital goods was legally infirm, including on an alleged FERA violation, was the dominant issue. The court held that the investment involved direct payment by the non-resident for imported machinery, with no foreign-exchange outflow by the company, and was expressly permissible on a non-repatriable basis under the applicable government directive; hence RBI's approval was valid. It further held that FERA had been repealed prior to the approval and, under FEMA, no RBI permission was required for such allotment; the "sunset" contention therefore did not arise. The intra-court appeal was dismissed - HC
Whether RBI's permission for allotment of shares to a non-resident against import of second-hand capital goods was legally infirm, including on an alleged FERA violation, was the dominant issue. The court held that the investment involved direct payment by the non-resident for imported machinery, with no foreign-exchange outflow by the company, and was expressly permissible on a non-repatriable basis under the applicable government directive; hence RBI's approval was valid. It further held that FERA had been repealed prior to the approval and, under FEMA, no RBI permission was required for such allotment; the "sunset" contention therefore did not arise. The intra-court appeal was dismissed - HC
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