Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
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HC affirmed penalties under Section 74 of CGST Act against petitioner for wilful suppression of facts through non-filing of monthly returns and non-payment of GST. Despite petitioner's claim that non-payment resulted from client's default, evidence showed partial payments were received from the client. Court held that Section 74 penalties require proof of intentional evasion through fraud, wilful misstatement, or deliberate suppression - mere non-payment is insufficient. Here, petitioner's conduct demonstrated wilful suppression as defined in Explanation-2, warranting penalties. Court rejected argument that Section 74 notice was invalid because tax was paid before notice issuance, noting interest under Section 50 remained unpaid. Additional consequential penalties were upheld.
HC affirmed penalties under Section 74 of CGST Act against petitioner for wilful suppression of facts through non-filing of monthly returns and non-payment of GST. Despite petitioner's claim that non-payment resulted from client's default, evidence showed partial payments were received from the client. Court held that Section 74 penalties require proof of intentional evasion through fraud, wilful misstatement, or deliberate suppression - mere non-payment is insufficient. Here, petitioner's conduct demonstrated wilful suppression as defined in Explanation-2, warranting penalties. Court rejected argument that Section 74 notice was invalid because tax was paid before notice issuance, noting interest under Section 50 remained unpaid. Additional consequential penalties were upheld.
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