Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
An assessee-trust denied exemption under s.11 sought revision under s.264 against an order appealable under s.246A. The revisional authority could not refuse to exercise jurisdiction merely because an appellate remedy existed, since the statute does not mandate exhaustion of appeal where no appeal is filed; accordingly, rejection on that ground was unsustainable. Further, s.264 powers are wide and intended to prevent miscarriage of justice, enabling relief even where the assessee's own mistake in the return caused omission of a legitimate claim; Goetze (India) Ltd. was held inapplicable. The impugned order rejecting the s.264 application for AY 2016-17 was quashed and set aside. - HC
An assessee-trust denied exemption under s.11 sought revision under s.264 against an order appealable under s.246A. The revisional authority could not refuse to exercise jurisdiction merely because an appellate remedy existed, since the statute does not mandate exhaustion of appeal where no appeal is filed; accordingly, rejection on that ground was unsustainable. Further, s.264 powers are wide and intended to prevent miscarriage of justice, enabling relief even where the assessee's own mistake in the return caused omission of a legitimate claim; Goetze (India) Ltd. was held inapplicable. The impugned order rejecting the s.264 application for AY 2016-17 was quashed and set aside. - HC
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