Minimum Public Offer Requirements set tiered issuer-based allotment minima with mandatory staged public shareholding increases and exchange enforcemen...
Disallowance under tax law for investment expenses cannot be applied mechanically; authority must record clear reasons before increasing assessee's su...
The note addresses provisional attachment in disproportionate assets proceedings, emphasising that the appellant bore the burden to prove lawful sources of funds under Section 24 of the relevant Act and failed to do so, so the attachment was sustained. The tribunal accepted valuation used for asset assessment and held that even if some property values were conservatively assessed, higher valuations would only increase alleged disproportion. Repeated unexplained cash deposits across family bank accounts were treated as unexplained proceeds relevant to the attachment. Absent credible documentary proof of income or sources, the impugned provisional attachment order was not interfered with and the appeals were dismissed.
The note addresses provisional attachment in disproportionate assets proceedings, emphasising that the appellant bore the burden to prove lawful sources of funds under Section 24 of the relevant Act and failed to do so, so the attachment was sustained. The tribunal accepted valuation used for asset assessment and held that even if some property values were conservatively assessed, higher valuations would only increase alleged disproportion. Repeated unexplained cash deposits across family bank accounts were treated as unexplained proceeds relevant to the attachment. Absent credible documentary proof of income or sources, the impugned provisional attachment order was not interfered with and the appeals were dismissed.
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