Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Disclosure obligations in SEBI-initiated prosecution and allied proceedings were examined in light of the right to a fair trial under Article 21 and the duty of fairness/natural justice. It was held that disclosure is not confined to documents formally relied upon, but extends to material necessary or desirable for the accused/noticee to prepare an effective defence and to contest even the existence of a prima facie case. The Investigation Report prepared under the relevant regulations was held to be the basis for forming the regulator's opinion and initiating further action, and therefore cannot be withheld as a mere internal document, subject only to redaction of third-party or confidential market information. The Investigation Report was directed to be furnished, and the petition was allowed. - HC
Disclosure obligations in SEBI-initiated prosecution and allied proceedings were examined in light of the right to a fair trial under Article 21 and the duty of fairness/natural justice. It was held that disclosure is not confined to documents formally relied upon, but extends to material necessary or desirable for the accused/noticee to prepare an effective defence and to contest even the existence of a prima facie case. The Investigation Report prepared under the relevant regulations was held to be the basis for forming the regulator's opinion and initiating further action, and therefore cannot be withheld as a mere internal document, subject only to redaction of third-party or confidential market information. The Investigation Report was directed to be furnished, and the petition was allowed. - HC
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