Ratification of resignation acceptance validates separation retrospectively, while withdrawal may be refused through reasoned administrative discretio...
Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
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Cash receipts and repayments between an assessee and close family members, including related family entities, were not treated as loans or deposits under the relevant cash transaction provisions. The Tribunal noted that the family relationship was undisputed and applied the Gujarat High Court ratio in Dr. Rajaram L. Akhani to hold that such intra-family transactions do not fall within the mischief of the cash loan and deposit restrictions. As the statutory foundation for penalty failed, the penalties for cash acceptance and cash repayment were unsustainable and were deleted; both appeals were allowed.
Cash receipts and repayments between an assessee and close family members, including related family entities, were not treated as loans or deposits under the relevant cash transaction provisions. The Tribunal noted that the family relationship was undisputed and applied the Gujarat High Court ratio in Dr. Rajaram L. Akhani to hold that such intra-family transactions do not fall within the mischief of the cash loan and deposit restrictions. As the statutory foundation for penalty failed, the penalties for cash acceptance and cash repayment were unsustainable and were deleted; both appeals were allowed.
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