Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Levy of interest u/s 50(3) - Wrong availment of Input of Tax Credit and reversal thereof - The court noted that the issue of levying interest under Section 50(3) of the Act for the wrongful availment and reversal of Input Tax Credit had been settled, as evidenced by the circular and various judgments cited. Additionally, the court considered the retrospective amendment in Section 50(3) of the Finance Act, 2022. - Matter remanded back to the adjudicating authority for fresh consideration in accordance with the law.
Levy of interest u/s 50(3) - Wrong availment of Input of Tax Credit and reversal thereof - The court noted that the issue of levying interest under Section 50(3) of the Act for the wrongful availment and reversal of Input Tax Credit had been settled, as evidenced by the circular and various judgments cited. Additionally, the court considered the retrospective amendment in Section 50(3) of the Finance Act, 2022. - Matter remanded back to the adjudicating authority for fresh consideration in accordance with the law.
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