PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
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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