Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
HC held that the SCN u/s 74 of GST Act, 2017 was issued without jurisdiction. The court found no ingredients present for invoking Section 74, specifically noting absence of allegations of fraud, wilful misstatement, or material suppression. Relying on precedent in a similar case involving the same tax officer, the court determined that the notice lacked requisite legal foundations. Consequently, the HC quashed and set aside the impugned notice, thereby allowing the petition and rendering the SCN legally ineffective.
HC held that the SCN u/s 74 of GST Act, 2017 was issued without jurisdiction. The court found no ingredients present for invoking Section 74, specifically noting absence of allegations of fraud, wilful misstatement, or material suppression. Relying on precedent in a similar case involving the same tax officer, the court determined that the notice lacked requisite legal foundations. Consequently, the HC quashed and set aside the impugned notice, thereby allowing the petition and rendering the SCN legally ineffective.
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