Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
Liability of a struck off company continues despite removal from the register; Sub section (6) of Section 248 read with Section 250 requires provision for discharge of liabilities, and the company remains liable for penalties assessed after striking off. Failure to comply with the pre deposit requirement under Section 19(1) of FEMA led to dismissal of the company's appeal. Penalties under Section 13(1) of FEMA are civil in nature and do not require mens rea for imposition. The appellate forum may exercise discretion to reduce penalties in the interests of justice; individual penalties were reduced to the specified lower amount and pre deposits adjusted accordingly.
Liability of a struck off company continues despite removal from the register; Sub section (6) of Section 248 read with Section 250 requires provision for discharge of liabilities, and the company remains liable for penalties assessed after striking off. Failure to comply with the pre deposit requirement under Section 19(1) of FEMA led to dismissal of the company's appeal. Penalties under Section 13(1) of FEMA are civil in nature and do not require mens rea for imposition. The appellate forum may exercise discretion to reduce penalties in the interests of justice; individual penalties were reduced to the specified lower amount and pre deposits adjusted accordingly.
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