Enforcement authorities uncovered a corruption racket involving illegal payments to influence GST evasion cases. The key takeaway is that multiple officials and private actors were arrested following a trap operation.
The assessing officer estimated commission income by assuming investments were accommodation entries. The tribunal confirmed that additions based on assumptions, without concrete evidence, are legally unsustainable.
The Registrar held that failure to disclose the risk management policy in the Board’s Report violated statutory reporting obligations. The key takeaway is that directors remain personally liable even after company strike-off.
Non-maintenance of statutory registers triggered adjudication under company law. Officers in default were held personally liable despite liquidation.
The key issue was whether approval of an IBC resolution plan automatically wipes out the right to carry forward business losses. The Tribunal held that such rights survive and must be examined under the Income-tax Act, not dismissed as infructuous.
The adjudicating authority held that non-appointment of an internal auditor despite crossing the statutory turnover threshold violated company law. Directors were personally penalised, reinforcing strict compliance with audit requirements.
The adjudicating authority held directors liable for non-filing of Form MGT-8 for an earlier financial year. Liquidation of the company did not shield officers from personal penalties.
The adjudicating authority held that failure to disclose deposits accepted from related parties violated mandatory Board report norms. The key takeaway is strict enforcement of deposit disclosure requirements under company law.
The core issue was whether an assessment can survive when DRP directions are disregarded. The Tribunal held that failure to follow binding DRP instructions renders the assessment void ab initio.
Failure to give proper prominence to proxy-related rights in AGM notices led to adjudication. A monetary penalty was imposed on the director under the Companies Act.
