Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
The Tribunal held that the statutory promoter-group test under the ICDR Regulations could not be displaced by a pleaded family arrangement; on the admitted shareholding and control findings, the relevant entities were counted in the promoter group, causing public shareholding to fall below the prescribed minimum and resulting in breach of minimum public shareholding norms. It further found, on preponderance of probability, that trading in an illiquid scrip through connected persons, with concentrated inter se trades around the delisting exercise, showed an artificial attempt to project liquidity and facilitate delisting, so the fraudulent trading finding was affirmed. Debarment was reduced only for specified appellants on proportionality grounds.
The Tribunal held that the statutory promoter-group test under the ICDR Regulations could not be displaced by a pleaded family arrangement; on the admitted shareholding and control findings, the relevant entities were counted in the promoter group, causing public shareholding to fall below the prescribed minimum and resulting in breach of minimum public shareholding norms. It further found, on preponderance of probability, that trading in an illiquid scrip through connected persons, with concentrated inter se trades around the delisting exercise, showed an artificial attempt to project liquidity and facilitate delisting, so the fraudulent trading finding was affirmed. Debarment was reduced only for specified appellants on proportionality grounds.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
