Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Proceedings initiated under section 130 read with section 122 of the GST Act based solely on excess stock found during a survey, without actual verification or weightment, are impermissible. The HC held that the GST Act provides a specific mechanism under sections 73/74 for dealing with unrecorded goods, and thus section 130 cannot be invoked in such circumstances. Precedents from this HC and the SC affirm that excess stock discovered at survey does not warrant initiation of proceedings under section 130. Consequently, the impugned orders issued on this basis were quashed, and the petition was allowed, confirming that section 130 proceedings cannot be employed for excess stock findings during a survey.
Proceedings initiated under section 130 read with section 122 of the GST Act based solely on excess stock found during a survey, without actual verification or weightment, are impermissible. The HC held that the GST Act provides a specific mechanism under sections 73/74 for dealing with unrecorded goods, and thus section 130 cannot be invoked in such circumstances. Precedents from this HC and the SC affirm that excess stock discovered at survey does not warrant initiation of proceedings under section 130. Consequently, the impugned orders issued on this basis were quashed, and the petition was allowed, confirming that section 130 proceedings cannot be employed for excess stock findings during a survey.
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