The order addresses failure to disclose occupation details of allottees in statutory filings. The authority held this omission to be a violation of securities allotment rules, attracting penalty under the Companies Act.
The issue concerned late filing of Form MGT-14 for a special resolution. The authority held the delay violated Section 117(2) and imposed penalties on the company and its officers.
The issue before the Authority was the classification of evaporators and condensers. It held that heat exchangers imported separately are classifiable as parts, but follow the main unit’s classification when imported together in CKD/SKD condition.
The ruling examined whether a liquid embolic system qualifies as a medicament. It held that since the product acts mechanically by occluding vessels, classification under medicament heading was not applicable.
The ruling clarifies that the power to admit or reject appeals under section 249(4) lies with NFAC/RFAC, not the Appeal Unit. Appeals were restored due to improper exercise of jurisdiction.
The new labour framework mandates restructuring of wages to ensure basic pay and dearness allowance form at least half of remuneration. This mainly affects fixed-term and contract workers, while permanent employees see limited change.
The Tribunal held that when corresponding sales are accepted, a full disallowance of alleged bogus purchases is not justified. It restricted the addition to 6% of the purchase value as a reasonable estimate.
The Tribunal clarified that disallowance under Section 14A is not warranted when sufficient interest-free own funds are available, reinforcing limits on Rule 8D application.
GSTN has made Table 3.2 of GSTR-3B non-editable with auto-population from GSTR-1/1A/IFF. The update ensures consistency in inter-State supply reporting and restricts corrections to prescribed amendment routes.
The AO accepted documents but still made an addition without pointing out defects. The Tribunal ruled that section 68 requires adverse findings, not assumptions.
