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...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
A pending rectification application must be decided before a statutory appeal is dismissed, where the rectification could affect the adjudication order under challenge. The High Court held that the appellate authority should not have rejected the appeal while rectification proceedings were still pending, and the appellate order was therefore unsustainable. It set aside the dismissal of the appeal and directed that the rectification application be decided first, after affording personal hearing and by a reasoned order, within the time fixed by the Court.
A pending rectification application must be decided before a statutory appeal is dismissed, where the rectification could affect the adjudication order under challenge. The High Court held that the appellate authority should not have rejected the appeal while rectification proceedings were still pending, and the appellate order was therefore unsustainable. It set aside the dismissal of the appeal and directed that the rectification application be decided first, after affording personal hearing and by a reasoned order, within the time fixed by the Court.
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