Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Vicarious liability for non-realisation of export proceeds requires proof that the director was in charge of and responsible for the company's business at the time of the contravention. The Tribunal held that most exports occurred after the director's resignation, one claim had not yet matured for realisation, and the complaint did not identify his specific role or any material showing personal responsibility for the unrealised proceeds. In the absence of a factual foundation establishing day-to-day control or responsibility, the department failed to discharge the burden for fastening penalty, and the penalty was cancelled.
Vicarious liability for non-realisation of export proceeds requires proof that the director was in charge of and responsible for the company's business at the time of the contravention. The Tribunal held that most exports occurred after the director's resignation, one claim had not yet matured for realisation, and the complaint did not identify his specific role or any material showing personal responsibility for the unrealised proceeds. In the absence of a factual foundation establishing day-to-day control or responsibility, the department failed to discharge the burden for fastening penalty, and the penalty was cancelled.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
