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...
Corporate guarantee taxability under GST was remitted for fresh assessment because the assessing authority had not properly considered the petitioner's reliance on applicable GST circulars, the contention that only 1% of turnover was taxable, and the earlier Madras HC ruling cited in support. The Court held that these aspects required examination and that the assessment could not stand on the corporate guarantee issue alone. The impugned order was therefore set aside only to that limited extent, with directions for fresh orders after hearing the petitioner and considering supporting material; all other findings were left undisturbed.
Corporate guarantee taxability under GST was remitted for fresh assessment because the assessing authority had not properly considered the petitioner's reliance on applicable GST circulars, the contention that only 1% of turnover was taxable, and the earlier Madras HC ruling cited in support. The Court held that these aspects required examination and that the assessment could not stand on the corporate guarantee issue alone. The impugned order was therefore set aside only to that limited extent, with directions for fresh orders after hearing the petitioner and considering supporting material; all other findings were left undisturbed.
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