Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
No prescribed limitation period governed petitions under the Companies Act before the Company Law Board, but unexplained delay could still matter where relief is discretionary; on these facts, the grievance concerned a continuing course of oppression and mismanagement, so delay, laches, acquiescence and estoppel did not bar scrutiny. The Board could examine fraud and forgery on the record where the material disclosed mala fide exclusion, and its findings on shareholding, clandestine meetings and oppressive conduct were not perverse under Section 10F because they rested on company records and correspondence. Additional evidence under Order XLI Rule 27 required due diligence and necessity, which were not shown. The special auditor direction was only consequential and was upheld.
No prescribed limitation period governed petitions under the Companies Act before the Company Law Board, but unexplained delay could still matter where relief is discretionary; on these facts, the grievance concerned a continuing course of oppression and mismanagement, so delay, laches, acquiescence and estoppel did not bar scrutiny. The Board could examine fraud and forgery on the record where the material disclosed mala fide exclusion, and its findings on shareholding, clandestine meetings and oppressive conduct were not perverse under Section 10F because they rested on company records and correspondence. Additional evidence under Order XLI Rule 27 required due diligence and necessity, which were not shown. The special auditor direction was only consequential and was upheld.
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