Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
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The text addresses personal liability of directors in regulatory enforcement, holding that designation alone does not establish personal liability and that vicarious liability requires specific findings of individual involvement; this principle limits attachment of personal bank, demat and trading accounts absent substantive averments. It emphasises principles of natural justice and the limited scope of judicial review under Article 226 where regulatory findings entail factual appreciation, concluding that reasoned statutory orders invoking recovery and attachment powers under the SEBI Act warrant pursuit of the alternative statutory remedy before the Securities Appellate Tribunal rather than writ relief.
The text addresses personal liability of directors in regulatory enforcement, holding that designation alone does not establish personal liability and that vicarious liability requires specific findings of individual involvement; this principle limits attachment of personal bank, demat and trading accounts absent substantive averments. It emphasises principles of natural justice and the limited scope of judicial review under Article 226 where regulatory findings entail factual appreciation, concluding that reasoned statutory orders invoking recovery and attachment powers under the SEBI Act warrant pursuit of the alternative statutory remedy before the Securities Appellate Tribunal rather than writ relief.
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