This ruling clarifies that an assessee can be treated as an agent of a non-resident only if income is received directly or indirectly for the NRI. In the absence of such receipt or business connection, representative assessment fails.
The authority held that undelivered statutory notices prove breach of registered office requirements. The key takeaway is that prolonged defaults can attract the maximum penalty under company law.
The regulator held that provisional enrolment has no legal basis under valuation rules and suspended the organisation for violating mandatory eligibility requirements.
The regulator held that expulsion from a Registered Valuers Organisation breaches eligibility under valuation rules. Continuous RVO membership is mandatory to retain registration.
The Court examined whether a show-cause notice under Section 74 was issued by a competent authority. Limited protection was granted while permitting a response to the notice.
The regulator has proposed a structured framework for how IFSC Banking Units may participate in remote booking arrangements. The key takeaway is tighter governance, transparency, and limits on retail and corporate loan bookings.
The adjudicating authority held that failure to disclose related party transactions violated statutory audit duties. The key takeaway is that auditors must strictly comply with AS-18 and SA-550 or face penalties under the Companies Act.
The adjudicating authority held that omission of related party disclosures violated statutory audit obligations. The key takeaway is that auditors must ensure full compliance with AS-18 and SA-550.
The authority held that non-numbering of minutes violates Secretarial Standard-1. The key takeaway is that statutory minute-keeping requirements must be strictly followed.
The Court examined a GST final intimation alleged to be issued without jurisdiction and statutory compliance. Interim protection was granted, restraining coercive action pending affidavits.
