Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
HC determined the initial cash seizure by state GST officers was unlawful, lacking statutory authority under CGST/SGST Act. The subsequent transfer of seized funds to Income Tax Department under Section 132A of IT Act could not legitimize the original illegal seizure. The court emphasized constitutional principles under Articles 265 and 300A protecting against unauthorized property expropriation and taxation. Neither GST Department nor Income Tax Department could retain the seized cash prior to completing their respective proceedings. The ruling reinforces fundamental constitutional safeguards against arbitrary state action in tax enforcement matters. Appeal resolved with direction to release seized funds pending completion of formal proceedings.
HC determined the initial cash seizure by state GST officers was unlawful, lacking statutory authority under CGST/SGST Act. The subsequent transfer of seized funds to Income Tax Department under Section 132A of IT Act could not legitimize the original illegal seizure. The court emphasized constitutional principles under Articles 265 and 300A protecting against unauthorized property expropriation and taxation. Neither GST Department nor Income Tax Department could retain the seized cash prior to completing their respective proceedings. The ruling reinforces fundamental constitutional safeguards against arbitrary state action in tax enforcement matters. Appeal resolved with direction to release seized funds pending completion of formal proceedings.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
