Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
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The HC allowed the petition and set aside the impugned orders under section 129 of the CGST Act. The court found the transaction to be a bona fide bill-to-ship movement from Maharashtra to Uttar Pradesh, supported by tax invoice, e-way bill and GR, and recognized by the State and its circular. Seizure solely on account of an expired e-way bill did not establish mens rea to evade tax; the delay resulted from the driver's illness and no adverse material showed intent to evade. In absence of requisite culpable mental element, penalty and seizure proceedings were unsustainable and were quashed.
The HC allowed the petition and set aside the impugned orders under section 129 of the CGST Act. The court found the transaction to be a bona fide bill-to-ship movement from Maharashtra to Uttar Pradesh, supported by tax invoice, e-way bill and GR, and recognized by the State and its circular. Seizure solely on account of an expired e-way bill did not establish mens rea to evade tax; the delay resulted from the driver's illness and no adverse material showed intent to evade. In absence of requisite culpable mental element, penalty and seizure proceedings were unsustainable and were quashed.
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