Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
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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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