Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
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A borrower account fraud classification was quashed where the bank relied on a transaction audit report already found insufficient to support undervaluation, preferential or fraudulent transactions, and also on undisclosed Joint Lenders Meeting material. Because those materials were not supplied in the show cause notice or otherwise disclosed, the petitioners had no effective opportunity to respond, and the bank could not cure the defect by later referring to an FIR that had not formed part of the original decision-making record. The Court held that the process violated audi alteram partem and that the impugned order was non-speaking, while reserving liberty to proceed afresh in accordance with law and RBI directions.
A borrower account fraud classification was quashed where the bank relied on a transaction audit report already found insufficient to support undervaluation, preferential or fraudulent transactions, and also on undisclosed Joint Lenders Meeting material. Because those materials were not supplied in the show cause notice or otherwise disclosed, the petitioners had no effective opportunity to respond, and the bank could not cure the defect by later referring to an FIR that had not formed part of the original decision-making record. The Court held that the process violated audi alteram partem and that the impugned order was non-speaking, while reserving liberty to proceed afresh in accordance with law and RBI directions.
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