Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The High Court considered whether a slump sale under the BTA would be taxable as a sale of goods u/s the MVAT Act. The reviewing authority exceeded its jurisdiction by dissecting the BTA and copying reasoning from a service tax demand notice. The intangible assets in Schedule 3.3 of the BTA could not be considered as sale of goods, and taxing them was a flawed approach. The reviewing authority misinterpreted the BTA and the MVAT Act, leading to an illegal order. The Court held that the slump sale did not amount to sale of goods u/s the MVAT Act, and set aside the impugned order. The petition was allowed.
The High Court considered whether a slump sale under the BTA would be taxable as a sale of goods u/s the MVAT Act. The reviewing authority exceeded its jurisdiction by dissecting the BTA and copying reasoning from a service tax demand notice. The intangible assets in Schedule 3.3 of the BTA could not be considered as sale of goods, and taxing them was a flawed approach. The reviewing authority misinterpreted the BTA and the MVAT Act, leading to an illegal order. The Court held that the slump sale did not amount to sale of goods u/s the MVAT Act, and set aside the impugned order. The petition was allowed.
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TaxTMI 
TaxTMI 
