Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
HC reviewed a petition challenging the classification of a corporate entity as a 'fraud' based on non-payment of institutional loans. The court found the bank's grounds for classification unsustainable, noting the company's balance sheets demonstrated substantial cash accruals and transactions. The court held that grounds previously rejected for 'wilful defaulter' status cannot form the basis for 'fraud' classification without additional independent material. The court emphasized that declaring an account as 'fraud' requires a higher degree of criminality. Consequently, the HC quashed the bank's fraud classification, ruling the action arbitrary, unfair, and legally untenable, and corrected minor typographical errors in the original judgment.
HC reviewed a petition challenging the classification of a corporate entity as a 'fraud' based on non-payment of institutional loans. The court found the bank's grounds for classification unsustainable, noting the company's balance sheets demonstrated substantial cash accruals and transactions. The court held that grounds previously rejected for 'wilful defaulter' status cannot form the basis for 'fraud' classification without additional independent material. The court emphasized that declaring an account as 'fraud' requires a higher degree of criminality. Consequently, the HC quashed the bank's fraud classification, ruling the action arbitrary, unfair, and legally untenable, and corrected minor typographical errors in the original judgment.
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