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...
Writ challenge to GST show cause notice, order-in-original and demand was not entertained where the petitioner raised an amalgamation-based plea for the first time in the writ court. The text notes that the petitioner had already replied on merits to the input tax credit dispute before the department, but had not disclosed the fresh incorporation or new GST registration, and had also not replied to the show cause notice or attended personal hearings. Because the challenge turned on disputed facts better examined by the statutory forum, the petitioner was relegated to the appellate remedy, with liberty to file an appeal within the stipulated time with the required pre-deposit and to seek condonation of delay, which was to be considered sympathetically.
Writ challenge to GST show cause notice, order-in-original and demand was not entertained where the petitioner raised an amalgamation-based plea for the first time in the writ court. The text notes that the petitioner had already replied on merits to the input tax credit dispute before the department, but had not disclosed the fresh incorporation or new GST registration, and had also not replied to the show cause notice or attended personal hearings. Because the challenge turned on disputed facts better examined by the statutory forum, the petitioner was relegated to the appellate remedy, with liberty to file an appeal within the stipulated time with the required pre-deposit and to seek condonation of delay, which was to be considered sympathetically.
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