Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
The Kerala HC held that provisional release of goods is permissible u/s 67(6) of the GST Act even after initiation of proceedings u/s 130. The adjudication can proceed even if goods are released pending adjudication. Section 130(7) provides an option to pay fine in lieu of confiscation after adjudication, protecting revenue interest. Provisional release does not result in loss of absolute custody by the Department over seized goods as it retains constructive custody. The object is to secure the value of goods liable for confiscation, not confiscation itself.
The Kerala HC held that provisional release of goods is permissible u/s 67(6) of the GST Act even after initiation of proceedings u/s 130. The adjudication can proceed even if goods are released pending adjudication. Section 130(7) provides an option to pay fine in lieu of confiscation after adjudication, protecting revenue interest. Provisional release does not result in loss of absolute custody by the Department over seized goods as it retains constructive custody. The object is to secure the value of goods liable for confiscation, not confiscation itself.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
