Capital Gain Deductibility: proportionate IPO and PMS expenses held allowable against capital gains where netting and nexus to transfer are establishe...
Admissibility of Documentary Evidence: appellate authority may admit self explanatory documents on first production and uphold deletion of unexplained...
A later company petition was barred by res judicata where it sought substantially the same reliefs on the same cause of action as an earlier petition, including challenge to board resolutions, restoration of position in the company and control over bank operations. The Appellate Tribunal held that the earlier orders had attained finality because they were carried through the appellate process and left undisturbed, and withdrawal of the civil appeal before the Supreme Court did not permit reopening the concluded dispute. The fresh proceeding was therefore an abuse of process and the company appeal was dismissed.
A later company petition was barred by res judicata where it sought substantially the same reliefs on the same cause of action as an earlier petition, including challenge to board resolutions, restoration of position in the company and control over bank operations. The Appellate Tribunal held that the earlier orders had attained finality because they were carried through the appellate process and left undisturbed, and withdrawal of the civil appeal before the Supreme Court did not permit reopening the concluded dispute. The fresh proceeding was therefore an abuse of process and the company appeal was dismissed.
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