Concessional corporate tax option under section 115BAA survives procedural documentary lapses when statutory compliance and earlier exercise are estab...
Penny-stock additions require transaction-specific evidence; general investigation material alone cannot establish undisclosed income or accommodation...
Transfer pricing comparability prioritises reliable external CUPs and foreign-currency LIBOR benchmarks for exports, borrowings and delayed receivable...
Section 153C satisfaction and seized electronic records sustained unexplained-investment addition, subject to proportionate ownership-share verificati...
A show cause notice for cancellation of GST registration must disclose the precise default so the registrant can mount an effective reply. Here, the notice only referred to non-filing of returns for six months without identifying the relevant period, and the cancellation order failed to give specific reasons, making it a non-speaking order contrary to Rule 22(3), Form GST REG-19, and natural justice. The petitioner's failure to reply did not excuse the Proper Officer from passing a reasoned order. Despite delay in approaching the Court, the statutory defect in recording reasons prevailed. The cancellation order was quashed, and the matter was remitted to the notice stage for fresh consideration.
A show cause notice for cancellation of GST registration must disclose the precise default so the registrant can mount an effective reply. Here, the notice only referred to non-filing of returns for six months without identifying the relevant period, and the cancellation order failed to give specific reasons, making it a non-speaking order contrary to Rule 22(3), Form GST REG-19, and natural justice. The petitioner's failure to reply did not excuse the Proper Officer from passing a reasoned order. Despite delay in approaching the Court, the statutory defect in recording reasons prevailed. The cancellation order was quashed, and the matter was remitted to the notice stage for fresh consideration.
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