Relief for Kotak Mahindra Bank; SC upholds immunity from penalty, prosecution for non-disclosure of lease rental income

Setting aside the Karnataka High Court order that remanded the matter back to the commission to decide on the immunity from penalty and prosecution in the Kotak Mahindra Bank’s case (formerly ING Vysya Bank), a Bench comprising justices BV Nagarathna and Ujjal Bhuyan said that frequent interference by courts in disputes before such commissions could erode the confidence of the assesses who decide to approach settlement commissions.

Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.