Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Absence of pre-trade authorisation is not conclusive of unauthorised trading and, by itself, may only trigger regulatory consequences; a client who does not object within a reasonable time cannot ordinarily disown the trades. Here, however, the HC upheld the arbitral award because the arbitrator found, on WhatsApp messages, audio recordings and transaction data, that the trades were manipulated, induced by promises of high returns, and continued under pressure, amounting to blatantly unauthorised and prejudicial trading. The Court also held that the broker was vicariously liable for fraudulent acts carried out by its Alliance Partner and employees in the course of the broker's business, so no patent illegality or perversity justified interference under Section 37.
Absence of pre-trade authorisation is not conclusive of unauthorised trading and, by itself, may only trigger regulatory consequences; a client who does not object within a reasonable time cannot ordinarily disown the trades. Here, however, the HC upheld the arbitral award because the arbitrator found, on WhatsApp messages, audio recordings and transaction data, that the trades were manipulated, induced by promises of high returns, and continued under pressure, amounting to blatantly unauthorised and prejudicial trading. The Court also held that the broker was vicariously liable for fraudulent acts carried out by its Alliance Partner and employees in the course of the broker's business, so no patent illegality or perversity justified interference under Section 37.
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