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...
Section 74 CGST extended limitation applies only where available material permits a rational prima facie view that tax shortfall, erroneous refund or wrongful input tax credit arose by reason of fraud, wilful misstatement or suppression of facts to evade tax. Conclusive proof is not required at notice stage, but suspicion or a bare allegation is insufficient. Prior scrutiny, audit, inspection or pre-notice communications may supply the factual basis for a DRC-01 notice if they gave the taxpayer meaningful notice. Section 75 prevents confirmation on new grounds and permits treatment under the ordinary regime where the extended-period allegations are ultimately not established.
Section 74 CGST extended limitation applies only where available material permits a rational prima facie view that tax shortfall, erroneous refund or wrongful input tax credit arose by reason of fraud, wilful misstatement or suppression of facts to evade tax. Conclusive proof is not required at notice stage, but suspicion or a bare allegation is insufficient. Prior scrutiny, audit, inspection or pre-notice communications may supply the factual basis for a DRC-01 notice if they gave the taxpayer meaningful notice. Section 75 prevents confirmation on new grounds and permits treatment under the ordinary regime where the extended-period allegations are ultimately not established.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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