Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Foundational assessment satisfaction is essential before initiating penalty for cash receipt of immovable-property sale consideration under section 27...
Section 129(3) of the CGST/KGST Act imposes a mandatory seven-day period, measured from service of notice, for issuing a detention-penalty order concerning a transit-document discrepancy. The term "shall" requires strict compliance because the provision authorises coercive detention and seizure; the absence of an express consequence for delay does not make the limit directory. An order passed after the prescribed period is illegal and without jurisdiction, with consequential setting aside of the penalty and appellate orders and release of the bank guarantee.
Section 129(3) of the CGST/KGST Act imposes a mandatory seven-day period, measured from service of notice, for issuing a detention-penalty order concerning a transit-document discrepancy. The term "shall" requires strict compliance because the provision authorises coercive detention and seizure; the absence of an express consequence for delay does not make the limit directory. An order passed after the prescribed period is illegal and without jurisdiction, with consequential setting aside of the penalty and appellate orders and release of the bank guarantee.
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TaxTMI 
TaxTMI 
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