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Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
The HC allowed the petition and quashed the impugned orders, directing refund of the amount deposited by the petitioner. The court held that interception and seizure of electronic goods on account of a mismatch between the vehicle number in transport documents and the actual conveyance, coupled with non-updation of the e-way bill by the transporter, did not establish mens rea or tax evasion by the petitioner. Physical verification revealed concordant tax-invoice entries and serial numbers with the seized items, and the petitioner had notified the change of vehicle in its reply. In absence of discrepancy in goods or serial numbers, proceedings under section 129(3) could not be sustained against the petitioner.
The HC allowed the petition and quashed the impugned orders, directing refund of the amount deposited by the petitioner. The court held that interception and seizure of electronic goods on account of a mismatch between the vehicle number in transport documents and the actual conveyance, coupled with non-updation of the e-way bill by the transporter, did not establish mens rea or tax evasion by the petitioner. Physical verification revealed concordant tax-invoice entries and serial numbers with the seized items, and the petitioner had notified the change of vehicle in its reply. In absence of discrepancy in goods or serial numbers, proceedings under section 129(3) could not be sustained against the petitioner.
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