Home Highlights February 2019 Year 2019 This

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1. Public interest - compulsory amalgamation - The expression “public interest” would mean the welfare of the public or the interest of society as a whole, as contrasted...

2. Professional misconduct - Auditor's conflict of interest with the auditee company - In this case the audit done by the EP related to SKNL which was a large public listed...

3. Recovery of tax dues of the Company from Directors - Applicability of section 179 to public limited company - In the light of the language in which Section 179 of IT Act...

4. Exemption from Service Tax - The exemption which was earlier granted in the public interest was withdrawn in the public interest - Whether public interest existed or not...

5. PIL - alleged undeclared income - The present Public Interest Litigation is not a genuine Public Interest Litigation, but a politically motivated litigation, which...

6. Commission paid to director u/s 36(1)(ii) - as a part of remuneration package of the executive director - based on his performance evaluation and also considering his...

7. Penalty u/s 271-D and 271-E - accepting loan in cash from the director of the company - The tribunal held that, the assessee`s case under consideration the transactions...

8. Siphoning of funds - collection of money from the public issue by publishing prospects in the year 1994 by the directors and promoters of the Company - petitioner was...

9. Disallowance of excess interest paid - diversion of funds for non-business purposes - It is immaterial how the loan was treated by the Director - as far as the assessee...

10. Opportunity to be heard to ICA Lenders not provided - ‘person concerned’ - the NCLT has denied an opportunity to be heard to ICA Lenders on the ground that insofar as...

11. Jurisdiction of Joint DGFT to review own order - The power of review of any decision or order is only under Section 16 - As and when the second respondent had issued the...

12. Frivolous review petition - Interest and cost to be recovered from the commissioner of customs in the review petition and all officers responsible.- HC

13. Liability of Independent Director who was retired before the date of offence - the petitioner as seen from the documents was an Additional Director on the date the board...

14. Vicarious liability of Additional Director - Non-executive Independent Directors or not - Officer in default - non repayment of deposits by the Company to the depositors...

15. Provision for remuneration of whole time directors – Enhanced directors remuneration – claim of assessee was allowable - AT