The issue involved omission of Director Identification Numbers in financial statements. The authority held that such non-compliance attracts penalty under Section 172.
The Tribunal upheld contravention but reduced penalties due to lack of justification for maximum fines. It emphasized proportionality in penalty determination. Key takeaway: penalty must be reasoned and proportionate.
The ROC held that failure to maintain a functional registered office violates Section 12 of the Companies Act. Returned notices proved non-compliance, leading to penalties on the company and directors.
The Tribunal upheld attachment, ruling that funds used in a conspiracy can qualify as proceeds of crime. It held that even layered investments linked to illegal activity are attachable under PMLA.
The issue was whether share capital addition could be sustained without seized evidence. The Tribunal held that in absence of incriminating material, the addition under Section 68 is invalid.
The issue was whether proceedings under Section 153C were time-barred. The Tribunal held that the assessment fell outside the limitation period and was therefore invalid.
The issue was whether additions could be made in unabated assessments without incriminating material. The Tribunal held that such additions are invalid, relying on Supreme Court precedent.
SEBI extended the suspension on key agricultural commodity derivatives to control volatility and speculation. The move aims to ensure price stability in essential commodities.
The RBI introduced a cap on NOP-INR positions to limit excessive currency exposure by Authorised Dealers. The directive aims to enhance exchange rate stability and risk management. It mandates strict compliance within the prescribed timeline.
The notification grants exemption under Section 10(46) as the entity operates without commercial intent. It clarifies that only specified income like grants and refundable interest qualifies. The ruling ensures tax relief while mandating strict compliance conditions.
