Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Section 129(3) of the CGST/KGST Act requires a proper officer to pass a penalty order within seven days of serving a detention notice for goods in transit. The use of "shall" is treated as mandatory because the provision governs coercive detention and seizure powers, even though no express consequence is specified for delay. A penalty order issued forty-seven days after notice was treated as beyond the prescribed limitation and without jurisdiction. The resulting penalty and appellate orders were set aside, with consequential release of the bank guarantee.
Section 129(3) of the CGST/KGST Act requires a proper officer to pass a penalty order within seven days of serving a detention notice for goods in transit. The use of "shall" is treated as mandatory because the provision governs coercive detention and seizure powers, even though no express consequence is specified for delay. A penalty order issued forty-seven days after notice was treated as beyond the prescribed limitation and without jurisdiction. The resulting penalty and appellate orders were set aside, with consequential release of the bank guarantee.
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TaxTMI 
TaxTMI 
of 4897 
