Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
The HC allowed the petition and quashed the impugned orders dated 29.05.2024 (respondent no.2) and 21.10.2023 (respondent no.3), holding that initiation of proceedings under section 130 read with section 122 of the GST Act is impermissible where excess stock is discovered during survey and proceedings under sections 73/74 have already been initiated. The court applied binding precedent affirmed by the SC, concluding that section 130 proceedings cannot be invoked to convert survey-discovered excess stock into a separate penal or adjudicatory process. Consequently, all consequential actions premised on the impugned orders were set aside and the petition was allowed.
The HC allowed the petition and quashed the impugned orders dated 29.05.2024 (respondent no.2) and 21.10.2023 (respondent no.3), holding that initiation of proceedings under section 130 read with section 122 of the GST Act is impermissible where excess stock is discovered during survey and proceedings under sections 73/74 have already been initiated. The court applied binding precedent affirmed by the SC, concluding that section 130 proceedings cannot be invoked to convert survey-discovered excess stock into a separate penal or adjudicatory process. Consequently, all consequential actions premised on the impugned orders were set aside and the petition was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
