Home Highlights February 2019 Year 2019 This

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

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

3. Liability of duty – non–performance of export obligation – duty and interest is paid before the service of notice - order of the adjudicating authority imposing penalty...

4. 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...

5. Penal action may be taken against nominee director on behalf of Public FIs, Financial Institutions & banks on the board of companies for defaults

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. Nomination and Remuneration Committee - committee will specify methodology for effective evaluation of performance of Board and committees and individual directors...

8. 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...

9. 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...

10. 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...