Penalty on exchange vacated for lack of evidence that exchange authorized subsidiaries' investments; Regulations 43(1) 2012 and 38(2) 2018 inapplicabl...
Petitioner not an eligible assessee under s.144C(15)(b); draft and final assessments under s.144C(1)/s.143(3)/s.144B quashed and penalty show-cause no...
HC refused interim relief under Section 74 of the W.B.G.S.T./C.G.S.T. Act, 2017, noting alleged suppression of facts to evade tax. The court declined interim protection and directed that Rs. 5,50,62,464, which the appellants/petitioners assert was paid under compulsion but which the Revenue disputes, shall be treated as a deposit and shall abide by the final adjudicatory orders in the writ petition. Observing that over 50% of the tax demand has already been recovered, the court held the Revenue's interest is adequately protected and that the payment exceeds the 10% deposit ordinarily required on appeal, reinforcing treatment as a deposit. The writ petition is listed before the appropriate Bench on 28 November 2025.
HC refused interim relief under Section 74 of the W.B.G.S.T./C.G.S.T. Act, 2017, noting alleged suppression of facts to evade tax. The court declined interim protection and directed that Rs. 5,50,62,464, which the appellants/petitioners assert was paid under compulsion but which the Revenue disputes, shall be treated as a deposit and shall abide by the final adjudicatory orders in the writ petition. Observing that over 50% of the tax demand has already been recovered, the court held the Revenue's interest is adequately protected and that the payment exceeds the 10% deposit ordinarily required on appeal, reinforcing treatment as a deposit. The writ petition is listed before the appropriate Bench on 28 November 2025.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
