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...
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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