Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Denial of SEIS benefits for FY 2016-17 on the ground that foreign exchange was realized in FY 2017-18 was held unsustainable because the prescribed form expressly permits claiming SEIS for foreign exchange earned in a financial year against services exported in the preceding year, and the relevant criterion is earning/realization of foreign exchange, not the year of export; the rejection order and consequential communication were set aside. Denial of SEIS benefits for components such as travel/transport, inspection, R&D, software, and re-invoicing was also held erroneous since these were integral to the exported engineering services and, once foreign exchange was earned for them, they were eligible; the matter was disposed with directions allowing the claim. - HC
Denial of SEIS benefits for FY 2016-17 on the ground that foreign exchange was realized in FY 2017-18 was held unsustainable because the prescribed form expressly permits claiming SEIS for foreign exchange earned in a financial year against services exported in the preceding year, and the relevant criterion is earning/realization of foreign exchange, not the year of export; the rejection order and consequential communication were set aside. Denial of SEIS benefits for components such as travel/transport, inspection, R&D, software, and re-invoicing was also held erroneous since these were integral to the exported engineering services and, once foreign exchange was earned for them, they were eligible; the matter was disposed with directions allowing the claim. - HC
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