Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
HC held that confiscatory proceedings under the GST enactment cannot be invoked where the sole basis is excess stock found during survey. Because the impugned orders fastened tax liability and imposed penalty on that foundation alone, they were beyond the jurisdiction conferred by law and contrary to the settled legal position. The Court therefore set aside the orders and allowed the writ petition.
HC held that confiscatory proceedings under the GST enactment cannot be invoked where the sole basis is excess stock found during survey. Because the impugned orders fastened tax liability and imposed penalty on that foundation alone, they were beyond the jurisdiction conferred by law and contrary to the settled legal position. The Court therefore set aside the orders and allowed the writ petition.
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