Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
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Quashing of the penalty for undisclosed income removed the foundational finding of wilful tax evasion required to continue prosecution for an offence under section 276C(1)(i). Following a coordinate-bench ruling, the High Court treated the Tribunal's penalty order as effective because it had not been stayed; the Department's pending appeal did not justify continuation of criminal proceedings. The prosecution was quashed, while preserving the Department's liberty to seek revival and recall if the Tribunal's order is reversed in the pending appeal.
Quashing of the penalty for undisclosed income removed the foundational finding of wilful tax evasion required to continue prosecution for an offence under section 276C(1)(i). Following a coordinate-bench ruling, the High Court treated the Tribunal's penalty order as effective because it had not been stayed; the Department's pending appeal did not justify continuation of criminal proceedings. The prosecution was quashed, while preserving the Department's liberty to seek revival and recall if the Tribunal's order is reversed in the pending appeal.
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