Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
General penalty under the GST regime cannot be imposed where the statute already provides for late fee for delayed filing of annual returns, because the residual penalty provision applies only in the absence of a specific penalty under the enactment. The High Court followed its earlier decision in Ms. Kandan Hardware Mart and held that the impugned order was unsustainable only to the extent it levied general penalty under the TNGST Act, 2017. The late fee liability was upheld and left undisturbed, with payment directed within the time granted by the Court.
General penalty under the GST regime cannot be imposed where the statute already provides for late fee for delayed filing of annual returns, because the residual penalty provision applies only in the absence of a specific penalty under the enactment. The High Court followed its earlier decision in Ms. Kandan Hardware Mart and held that the impugned order was unsustainable only to the extent it levied general penalty under the TNGST Act, 2017. The late fee liability was upheld and left undisturbed, with payment directed within the time granted by the Court.
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