Mark-to-Market losses on principal-protected debentures are deductible as business expenditure when the obligation is crystallized under mercantile ac...
Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
A show cause notice issued in disregard of a binding and unchallenged advance ruling was treated as non-est because the ruling had attained finality between the parties and remained operative under the CGST framework. The Court held that, where the invalidity of the notice was apparent on the face of the record, the petitioner was not required to first reply to the notice or pursue the statutory remedy. It therefore exercised writ jurisdiction under Article 226 and quashed the notice as lacking foundation.
A show cause notice issued in disregard of a binding and unchallenged advance ruling was treated as non-est because the ruling had attained finality between the parties and remained operative under the CGST framework. The Court held that, where the invalidity of the notice was apparent on the face of the record, the petitioner was not required to first reply to the notice or pursue the statutory remedy. It therefore exercised writ jurisdiction under Article 226 and quashed the notice as lacking foundation.
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