Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
The High Court held that even though the petitioner, initially registered as a "Medium" enterprise under the MSME Act, was reclassified as "not an MSME" with effect from 9th May 2023, it was entitled to avail the benefit of the "Vivad Se Vishwas I-Relief for MSMEs Scheme" (VSV Scheme), a non-tax benefit. Clause 8(5), as substituted, creates a legal fiction treating an enterprise as Micro, Small or Medium for three years from an upward reclassification, for availing non-tax benefits. Therefore, the petitioner, though reclassified as "not an MSME," could claim the VSV Scheme benefit as a Medium enterprise for three years from 9th May 2023. The emails denying the petitioner's eligibility for the VSV Scheme were held incorrect, and the writ petition was allowed.
The High Court held that even though the petitioner, initially registered as a "Medium" enterprise under the MSME Act, was reclassified as "not an MSME" with effect from 9th May 2023, it was entitled to avail the benefit of the "Vivad Se Vishwas I-Relief for MSMEs Scheme" (VSV Scheme), a non-tax benefit. Clause 8(5), as substituted, creates a legal fiction treating an enterprise as Micro, Small or Medium for three years from an upward reclassification, for availing non-tax benefits. Therefore, the petitioner, though reclassified as "not an MSME," could claim the VSV Scheme benefit as a Medium enterprise for three years from 9th May 2023. The emails denying the petitioner's eligibility for the VSV Scheme were held incorrect, and the writ petition was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
