Retrospective cancellation of charitable registration under section 12AB(4) was unsustainable; related-party benefit allegations did not prove nongenu...
Merger control notice and disclosure rules: Supreme Court limits penalties, rejects reopening of approved combination, and sets aside adverse findings...
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Input tax credit cannot be denied to a bona fide purchasing dealer who transacted with a registered supplier and complied with statutory requirements merely because the supplier failed to deposit the tax collected from the purchaser. The proper remedy is to proceed against the defaulting supplier, not to shift the burden onto the purchaser by way of vicarious liability. The demand and appellate orders were set aside because the controversy was covered by binding precedent, but the Department retained liberty to act in accordance with law if material shows the transactions were collusive or not bona fide.
Input tax credit cannot be denied to a bona fide purchasing dealer who transacted with a registered supplier and complied with statutory requirements merely because the supplier failed to deposit the tax collected from the purchaser. The proper remedy is to proceed against the defaulting supplier, not to shift the burden onto the purchaser by way of vicarious liability. The demand and appellate orders were set aside because the controversy was covered by binding precedent, but the Department retained liberty to act in accordance with law if material shows the transactions were collusive or not bona fide.
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