Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
Reassessment against a deceased assessee: procedural defect mandates fresh reassessment; nonresponsive petitioner may be treated as legal representati...
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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