Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
The court addressed the challenge to the order of attachment and the priority of charge between the Multi-State Co-operative Bank and the Sales Tax Department for recovery of dues u/s 26(E) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The court held that the Sales Tax Department failed to provide evidence that the attachment of the secured asset complied with the Maharashtra Land Revenue Code, 1966 and its Rules. Following the Full Bench decision in Jalgaon Janta Sahakari Bank Ltd, an attachment under the Code requires a proclamation per the Rules. Absent adherence to this procedure, the Sales Tax Department cannot claim priority over the order of attachment predating 24/01/2020. The affidavit filed by the Sales Tax Department remained silent on this issue. Consequently, the petition was allowed.
The court addressed the challenge to the order of attachment and the priority of charge between the Multi-State Co-operative Bank and the Sales Tax Department for recovery of dues u/s 26(E) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The court held that the Sales Tax Department failed to provide evidence that the attachment of the secured asset complied with the Maharashtra Land Revenue Code, 1966 and its Rules. Following the Full Bench decision in Jalgaon Janta Sahakari Bank Ltd, an attachment under the Code requires a proclamation per the Rules. Absent adherence to this procedure, the Sales Tax Department cannot claim priority over the order of attachment predating 24/01/2020. The affidavit filed by the Sales Tax Department remained silent on this issue. Consequently, the petition was allowed.
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