Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Tribunal affirmed that issuance of duplicate share certificates without informing the registered shareholder breached the company's duty and violated due diligence obligations of the registrar/transfer agent; consequence: register must be rectified and shares restored to the original shareholder. Tribunal found negligent conduct in issuing duplicates and simultaneous transfer to an impostor, warranting compensation as alternative relief; consequence: damages equivalent to market value of the shares were ordered where restoration failed. Tribunal also awarded litigation costs to compensate the aggrieved individual for legal expenses. Appeal against the rectification and alternative compensation was dismissed.
Tribunal affirmed that issuance of duplicate share certificates without informing the registered shareholder breached the company's duty and violated due diligence obligations of the registrar/transfer agent; consequence: register must be rectified and shares restored to the original shareholder. Tribunal found negligent conduct in issuing duplicates and simultaneous transfer to an impostor, warranting compensation as alternative relief; consequence: damages equivalent to market value of the shares were ordered where restoration failed. Tribunal also awarded litigation costs to compensate the aggrieved individual for legal expenses. Appeal against the rectification and alternative compensation was dismissed.
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