Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
The sole issue was whether the Department could adjust a tax refund for A.Y. 2023-24 against an outstanding demand for A.Y. 2022-23 without the specific higher-payment reference contemplated by the applicable Office Memoranda and s.245 procedure; the court held that, absent any reference to the Principal Commissioner/Commissioner to require a payment above the stay deposit, only the contractual stay deposit proportion (20%) of the A.Y. 2022-23 demand could lawfully be set off-20% (Rs. 1,03,46,296) retained and the remainder of the refund to be paid with interest within 30 days; the retained sum remains subject to the pending appeal and the residual demand remains stayed until its disposal. - HC
The sole issue was whether the Department could adjust a tax refund for A.Y. 2023-24 against an outstanding demand for A.Y. 2022-23 without the specific higher-payment reference contemplated by the applicable Office Memoranda and s.245 procedure; the court held that, absent any reference to the Principal Commissioner/Commissioner to require a payment above the stay deposit, only the contractual stay deposit proportion (20%) of the A.Y. 2022-23 demand could lawfully be set off-20% (Rs. 1,03,46,296) retained and the remainder of the refund to be paid with interest within 30 days; the retained sum remains subject to the pending appeal and the residual demand remains stayed until its disposal. - HC
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