Minimum Public Offer Requirements set tiered issuer-based allotment minima with mandatory staged public shareholding increases and exchange enforcemen...
Disallowance under tax law for investment expenses cannot be applied mechanically; authority must record clear reasons before increasing assessee's su...
The primary issue was whether penalties under s.114AA, s.158(2), s.117 and Reg.12(8) could be imposed for generation of dummy export documents; the tribunal found the documents were produced bona fide for internal calculation and there was no evidence they were used in any customs transaction nor that appellants acted knowingly or fraudulently, so s.114AA (penalty for knowingly making false material) did not apply - penalty under s.158(2) was inapplicable as it is merely enabling and not penal; s.117 (residuary) could not be invoked where specific penalties were concurrently imposed; Reg.12(8) penalty likewise unwarranted; impugned order set aside and appeals allowed. - CESTAT
The primary issue was whether penalties under s.114AA, s.158(2), s.117 and Reg.12(8) could be imposed for generation of dummy export documents; the tribunal found the documents were produced bona fide for internal calculation and there was no evidence they were used in any customs transaction nor that appellants acted knowingly or fraudulently, so s.114AA (penalty for knowingly making false material) did not apply - penalty under s.158(2) was inapplicable as it is merely enabling and not penal; s.117 (residuary) could not be invoked where specific penalties were concurrently imposed; Reg.12(8) penalty likewise unwarranted; impugned order set aside and appeals allowed. - CESTAT
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