Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Employee conflict disclosures and investment restrictions expand with new recusal duties, post-employment limits, and compliance reporting requirement...
The court addressed whether parallel proceedings under Sections 73/74 and Section 122 (penalty) create impermissible overlap and whether the show-cause notice could proceed pending resolution of a state appeal; it declined to decide the overlap on merits but ordered the state Appellate Authority to conclude the pending appeal within a limited period - outcome: appeal to be disposed within three weeks and the Central Authorities may proceed with the show-cause notice only after that conclusion. The petitioner may thereafter file a reply raising the overlap and reliance on the CBIC circular; remedies preserved. - HC
The court addressed whether parallel proceedings under Sections 73/74 and Section 122 (penalty) create impermissible overlap and whether the show-cause notice could proceed pending resolution of a state appeal; it declined to decide the overlap on merits but ordered the state Appellate Authority to conclude the pending appeal within a limited period - outcome: appeal to be disposed within three weeks and the Central Authorities may proceed with the show-cause notice only after that conclusion. The petitioner may thereafter file a reply raising the overlap and reliance on the CBIC circular; remedies preserved. - HC
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