Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
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The High Court upheld the levy of tax and penalty on the petitioner for fraudulent claim of Input Tax Credit (ITC) u/s 16 of the GST Act. The petitioner claimed ITC based on non-existent firms, later revealed by investigation. The court held that mere registration of firms does not entitle ITC if no actual supplies were made. Fraud vitiates proceedings, allowing authorities to reclaim wrongly availed benefits. The court found no illegality in the orders and dismissed the petition.
The High Court upheld the levy of tax and penalty on the petitioner for fraudulent claim of Input Tax Credit (ITC) u/s 16 of the GST Act. The petitioner claimed ITC based on non-existent firms, later revealed by investigation. The court held that mere registration of firms does not entitle ITC if no actual supplies were made. Fraud vitiates proceedings, allowing authorities to reclaim wrongly availed benefits. The court found no illegality in the orders and dismissed the petition.
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