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...
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Constitutional challenge concerned Clause (d) proviso to Rule 5(1) of the West Bengal Excise (Change in Management) Rules, 2009: the Court found the original wording created unjustifiable intra class discrimination between private and public limited companies lacking an intelligible differentia, applied the Budhan Choudhry rational nexus test and read Clause (d) to include "change in management in the usual course of business" for private companies, preserving the exemption for death of directors. The Court also held the 2020 Notification defining "change in management" was not a retrospective clarificatory amendment and cannot alter pre existing substantive rights.
Constitutional challenge concerned Clause (d) proviso to Rule 5(1) of the West Bengal Excise (Change in Management) Rules, 2009: the Court found the original wording created unjustifiable intra class discrimination between private and public limited companies lacking an intelligible differentia, applied the Budhan Choudhry rational nexus test and read Clause (d) to include "change in management in the usual course of business" for private companies, preserving the exemption for death of directors. The Court also held the 2020 Notification defining "change in management" was not a retrospective clarificatory amendment and cannot alter pre existing substantive rights.
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