Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Rejection of an application for a withholding tax certificate resulted in the High Court holding that the Competent Authority acted arbitrarily by issuing a certificate at 15% despite existing binding precedent favouring nil withholding; the authority cannot depart from the court's settled view unless factual differences or new information justify a contrary conclusion. The court criticised delay in deciding the Section 197 application beyond the statutory period, observed that such delay frustrates the statutory purpose of preserving cash flow and avoiding interest on refunds, set aside the impugned order and directed issuance of a nil-rate certificate within 15 days.
Rejection of an application for a withholding tax certificate resulted in the High Court holding that the Competent Authority acted arbitrarily by issuing a certificate at 15% despite existing binding precedent favouring nil withholding; the authority cannot depart from the court's settled view unless factual differences or new information justify a contrary conclusion. The court criticised delay in deciding the Section 197 application beyond the statutory period, observed that such delay frustrates the statutory purpose of preserving cash flow and avoiding interest on refunds, set aside the impugned order and directed issuance of a nil-rate certificate within 15 days.
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