Personal guarantor insolvency jurisdiction follows the corporate debtor's CIRP Bench, enabling inter-territorial transfer and preventing parallel proc...
Section 47-A undervaluation threshold: fraudulent intent requirement faces reconsideration after referral to a larger Bench for authoritative resoluti...
RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Reasonable cause under Section 80 of the Finance Act, 1994 can shield an assessee from penalty under Section 78 for non-payment of service tax where contemporaneous departmental communications supported a bona fide belief that consultancy services provided to Government institutions were non-taxable. Interpretational uncertainty, the Department's initial view, and the absence of fraud, wilful misstatement, suppression with intent to evade, or deliberate default support reasonable cause. Service tax for the normal limitation period and applicable interest remained payable, but the Section 78 penalty was set aside.
Reasonable cause under Section 80 of the Finance Act, 1994 can shield an assessee from penalty under Section 78 for non-payment of service tax where contemporaneous departmental communications supported a bona fide belief that consultancy services provided to Government institutions were non-taxable. Interpretational uncertainty, the Department's initial view, and the absence of fraud, wilful misstatement, suppression with intent to evade, or deliberate default support reasonable cause. Service tax for the normal limitation period and applicable interest remained payable, but the Section 78 penalty was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
