Appellant was victim of circumstances; no penalty warranted upon non-disclosures under PIT regulation

COMPANY LAW/SEBI: Where appellant didn't himself acquire shares but was victim of circumstances that forced him to accept shares and, further, acquisition or disposal of shares didn't entail any gain to him or any loss to shareholders as company was completely defunct, though violation of PIT Regulations and SAST Regulations were proved, yet monetary penalty, was not warranted

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