Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
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The High Court granted relief to the petitioner by directing the release of attachment over immovable properties due to discrepancies between GSTR 3B returns and auto-populated GSTR 2A. Despite making the requisite 10% pre-deposit of the disputed tax demand, the attachment was effected contrary to statutory provisions. The court held that once the pre-deposit is made u/s 107(7), recovery proceedings for the balance amount shall be deemed stayed. Consequently, the attachment of the petitioner's immovable properties was found unsustainable and ordered to be released.
The High Court granted relief to the petitioner by directing the release of attachment over immovable properties due to discrepancies between GSTR 3B returns and auto-populated GSTR 2A. Despite making the requisite 10% pre-deposit of the disputed tax demand, the attachment was effected contrary to statutory provisions. The court held that once the pre-deposit is made u/s 107(7), recovery proceedings for the balance amount shall be deemed stayed. Consequently, the attachment of the petitioner's immovable properties was found unsustainable and ordered to be released.
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