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...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The HC allowed the petition, holding that the 200% penalty levied under s.129 CGST/WBGST was unwarranted and ordering the appellate and original orders set aside. The court found no evidence of mens rea to evade tax, accepted the appellants' undisputed plea of traffic-induced delay and applied the statutory 8-hour extension available to transporter/owner/supplier, leaving only a residual delay which revenue failed to characterise as mala fide. In consequence the HC directed the appropriate departmental authority to refund the penalty already recovered upon receipt of an application by the appellants within eight weeks. The imposition of penalty in a mechanical manner was declared unjustified.
The HC allowed the petition, holding that the 200% penalty levied under s.129 CGST/WBGST was unwarranted and ordering the appellate and original orders set aside. The court found no evidence of mens rea to evade tax, accepted the appellants' undisputed plea of traffic-induced delay and applied the statutory 8-hour extension available to transporter/owner/supplier, leaving only a residual delay which revenue failed to characterise as mala fide. In consequence the HC directed the appropriate departmental authority to refund the penalty already recovered upon receipt of an application by the appellants within eight weeks. The imposition of penalty in a mechanical manner was declared unjustified.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
