Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
HC dismissed the writ petition challenging seizure of unaccounted mentha oil and caustic soda. The court held that under GST Act, section 35 mandates proper accounting of goods, and when discrepancies are found, sections 73/74 shall apply for tax determination. Section 130 cannot be invoked for proceedings related to excess stock discovered during survey. Precedents from previous judgments, including the court's own ruling in M/s Vijay Trading Company and subsequent SC orders, consistently affirmed that section 130 is inapplicable in such scenarios. The court found no merit in the challenge and dismissed the petition, upholding the original seizure and penalty orders.
HC dismissed the writ petition challenging seizure of unaccounted mentha oil and caustic soda. The court held that under GST Act, section 35 mandates proper accounting of goods, and when discrepancies are found, sections 73/74 shall apply for tax determination. Section 130 cannot be invoked for proceedings related to excess stock discovered during survey. Precedents from previous judgments, including the court's own ruling in M/s Vijay Trading Company and subsequent SC orders, consistently affirmed that section 130 is inapplicable in such scenarios. The court found no merit in the challenge and dismissed the petition, upholding the original seizure and penalty orders.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
