Fraudulent prospectus claims during insolvency must benefit creditors collectively, requiring recovery through the insolvency framework rather than in...
Liquidation estate receivables allow recovery of unpaid business-purchase consideration from the purchaser and controlling directors who controlled th...
Arrest under anti-money-laundering law requires fresh incriminating material after cooperative summons examination; otherwise arrest power cannot be u...
Unsubstantiated advertising receipts can constitute proceeds of crime, allowing attachment of equivalent property when direct proceeds are unavailable...
Settlement-cheque presumptions survive unsupported security and alteration defences, while individual circumstances may reduce substantive imprisonmen...
Separate business unit compliance for non-SEBI-regulated debenture trustee activities receives an extended implementation timeline amid regulatory rev...
Input Service Distributor credit rules assign eligibility, reversals and refund treatment to recipients while excluding transfer invoices from turnove...
Input tax credit requires the claimant to establish actual receipt of goods. Invoices, e-way bills, transport documents, stock records and banking-channel payments do not prove receipt where suppliers are found bogus or non-existent and vehicle-related material indicates no physical movement of goods. Payment of tax cannot replace the statutory requirement of actual receipt, supporting denial of credit. Separate penalties for the same wrongful availment require recorded justification and must comply with the bar on multiple penalties for the same act or omission. Penalty enhancement also requires adherence to principles of natural justice; penalty determination must therefore be reconsidered under that statutory restriction.
Input tax credit requires the claimant to establish actual receipt of goods. Invoices, e-way bills, transport documents, stock records and banking-channel payments do not prove receipt where suppliers are found bogus or non-existent and vehicle-related material indicates no physical movement of goods. Payment of tax cannot replace the statutory requirement of actual receipt, supporting denial of credit. Separate penalties for the same wrongful availment require recorded justification and must comply with the bar on multiple penalties for the same act or omission. Penalty enhancement also requires adherence to principles of natural justice; penalty determination must therefore be reconsidered under that statutory restriction.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4935 
