Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
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...
The High Court held that the writ petition challenging the respondent Bank's actions in not releasing amounts deposited in an Escrow Account for payment of statutory liabilities like GST from 2017 onwards is maintainable, despite other disputes being adjudicated before the Debts Recovery Tribunal. The Bank's adjustments to the receivables in the Escrow Account for loan repayment, resulting in non-compliance with statutory requirements like filing GSTR-3B and non-payment of GST, constituted a breach of the Escrow Agreement. The petitioner Company did not have control or the right to operate the Escrow Account, which was to be operated by the respondent Bank as per the Agreement. Consequently, the writ petition was allowed.
The High Court held that the writ petition challenging the respondent Bank's actions in not releasing amounts deposited in an Escrow Account for payment of statutory liabilities like GST from 2017 onwards is maintainable, despite other disputes being adjudicated before the Debts Recovery Tribunal. The Bank's adjustments to the receivables in the Escrow Account for loan repayment, resulting in non-compliance with statutory requirements like filing GSTR-3B and non-payment of GST, constituted a breach of the Escrow Agreement. The petitioner Company did not have control or the right to operate the Escrow Account, which was to be operated by the respondent Bank as per the Agreement. Consequently, the writ petition was allowed.
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