Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Ex-post-facto approval by the competent authority regularized prior failure to obtain prior RBI approval for the share transfer, nullifying contraventions under the FEMA transfer/issue regulations as against the two appellants - penalties imposed on those appellants are set aside. Separately, on the distinct issue of alleged contravention of Section 3(c) of FEMA, the appellant failed to establish lawful source of funds; the ex-post-facto approval did not relieve compliance with other FEMA conditions, therefore the penalty for the Section 3(c) breach is sustained against that appellant. The pre-deposit previously directed shall be adjusted against the upheld penalty. - AT
Ex-post-facto approval by the competent authority regularized prior failure to obtain prior RBI approval for the share transfer, nullifying contraventions under the FEMA transfer/issue regulations as against the two appellants - penalties imposed on those appellants are set aside. Separately, on the distinct issue of alleged contravention of Section 3(c) of FEMA, the appellant failed to establish lawful source of funds; the ex-post-facto approval did not relieve compliance with other FEMA conditions, therefore the penalty for the Section 3(c) breach is sustained against that appellant. The pre-deposit previously directed shall be adjusted against the upheld penalty. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
