Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
The HC dismissed the writ petition, holding that Section 74(10) requires the impugned order to be issued within the limitation period but not the subsequent DRC-07, which is a post-order electronic summary under Rule 142; deemed service under Section 169 (including electronic communication) suffices for issuance. The court recognised Section 74's extended period applies only where fraud, wilful misstatement or suppression is established and found the investigation prima facie disclosed alleged fraudulent ITC availment. The Petitioner was granted leave to file an appeal under Section 107 by 30 September 2025 with the requisite pre-deposit; if so filed timely, the Appellate Authority shall determine it on merits, not on limitation.
The HC dismissed the writ petition, holding that Section 74(10) requires the impugned order to be issued within the limitation period but not the subsequent DRC-07, which is a post-order electronic summary under Rule 142; deemed service under Section 169 (including electronic communication) suffices for issuance. The court recognised Section 74's extended period applies only where fraud, wilful misstatement or suppression is established and found the investigation prima facie disclosed alleged fraudulent ITC availment. The Petitioner was granted leave to file an appeal under Section 107 by 30 September 2025 with the requisite pre-deposit; if so filed timely, the Appellate Authority shall determine it on merits, not on limitation.
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