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...
Cancellation of registration under provisions concerning specified violations was quashed because the tax authority failed to identify any specified violation attributable to the trust; receipt of funds from an Indian citizen resident abroad, sent from personal savings through normal banking channels, was treated per FCRA guidance as not constituting foreign contribution, and suspicion without corroborative evidence cannot substitute for incriminating material. The tribunal emphasised that cancellation powers target misuse or failure to apply donations to objects of the trust, which was not shown here, and therefore the registration cancellation was unsustainable and the appeal allowed.
Cancellation of registration under provisions concerning specified violations was quashed because the tax authority failed to identify any specified violation attributable to the trust; receipt of funds from an Indian citizen resident abroad, sent from personal savings through normal banking channels, was treated per FCRA guidance as not constituting foreign contribution, and suspicion without corroborative evidence cannot substitute for incriminating material. The tribunal emphasised that cancellation powers target misuse or failure to apply donations to objects of the trust, which was not shown here, and therefore the registration cancellation was unsustainable and the appeal allowed.
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