Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
The HC held that initiation of proceedings under section 130 of the GST Act is impermissible where excess stock is found during a survey. Instead, proceedings must be initiated under sections 73 or 74 of the GST Act for tax recovery. The Court emphasized that the law consistently mandates the use of sections 73/74 in such cases, rejecting invocation of section 130 read with the relevant rules. Consequently, the impugned orders passed by the Deputy Commissioner and Additional Commissioner were quashed as unsustainable in law. The petition was allowed, clarifying that assessment and recovery in cases of excess stock found during survey must proceed exclusively under sections 73/74, not section 130.
The HC held that initiation of proceedings under section 130 of the GST Act is impermissible where excess stock is found during a survey. Instead, proceedings must be initiated under sections 73 or 74 of the GST Act for tax recovery. The Court emphasized that the law consistently mandates the use of sections 73/74 in such cases, rejecting invocation of section 130 read with the relevant rules. Consequently, the impugned orders passed by the Deputy Commissioner and Additional Commissioner were quashed as unsustainable in law. The petition was allowed, clarifying that assessment and recovery in cases of excess stock found during survey must proceed exclusively under sections 73/74, not section 130.
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