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Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
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Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
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Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The HC allowed the petition and granted retrospective relief: the O-in-O dated 29 Dec 2023 and the O-in-A dated 11 Jul 2024 are set aside insofar as they denied the petitioner the benefit of Circular No. 228/22/2024-GST dated 15 Jul 2024. The court held that, although those orders were rendered before issuance of the circular, the petitioner cannot be deprived of its benefit for the levy of GST on reinsurance of specified general and life insurance schemes for the period 01 Jul 2017 to 24 Jan 2018. The circular is declared squarely applicable to the petitioner and the decision in AXA France Vie-India is held to be applicable. Petition disposed.
The HC allowed the petition and granted retrospective relief: the O-in-O dated 29 Dec 2023 and the O-in-A dated 11 Jul 2024 are set aside insofar as they denied the petitioner the benefit of Circular No. 228/22/2024-GST dated 15 Jul 2024. The court held that, although those orders were rendered before issuance of the circular, the petitioner cannot be deprived of its benefit for the levy of GST on reinsurance of specified general and life insurance schemes for the period 01 Jul 2017 to 24 Jan 2018. The circular is declared squarely applicable to the petitioner and the decision in AXA France Vie-India is held to be applicable. Petition disposed.
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