Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
A State statutory first charge under tax enactments was held to prevail over the priority claimed by a secured creditor under Section 26E of the SARFAESI Act, because Section 26E operates prospectively and does not itself create a first charge. The text also notes that prospective operation may still take account of antecedent events, but that does not alter the result where the superior court has already limited Section 26E to prospective effect. For CST dues, State recovery powers were treated as incorporated through section 9(2), allowing the Commercial Tax Department to rely on the State first charge. An earlier order permitting sale outside liquidation was recalled for want of hearing the Department.
A State statutory first charge under tax enactments was held to prevail over the priority claimed by a secured creditor under Section 26E of the SARFAESI Act, because Section 26E operates prospectively and does not itself create a first charge. The text also notes that prospective operation may still take account of antecedent events, but that does not alter the result where the superior court has already limited Section 26E to prospective effect. For CST dues, State recovery powers were treated as incorporated through section 9(2), allowing the Commercial Tax Department to rely on the State first charge. An earlier order permitting sale outside liquidation was recalled for want of hearing the Department.
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