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Income Tax - Highlights / Catch Notes

Home Highlights February 2025 Year 2025 This

SC modified honorarium structure for High-Powered Sale Committee ...


High-Powered Sale Committee Members' Honorarium Restructured: Chairperson and Former HC Judge to Receive Monthly Fixed Compensation

February 27, 2025

Case Laws     Income Tax     SC

SC modified honorarium structure for High-Powered Sale Committee (HPSC) members due to infrequent meetings creating compensation disparity. Initially, Member Secretary received Rs.7,00,000 monthly while Chairperson and members received per-sitting amounts of Rs.2,00,000 and Rs.1,50,000 respectively. Court revised compensation effective February 2025: Chairperson to receive Rs.13,00,000 monthly and Member (former HC Judge) to receive Rs.10,00,000 monthly, plus travel and incidental expenses. Committee directed to expedite auction process to facilitate investor refunds. Modification addresses anomaly where Member Secretary's compensation exceeded other members due to limited committee meetings over seven months.

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