ESOP expenditure allowed as FMV difference; long-term capital gain issue sent back for collector rate determination; deferred income additions disallo...
Appeal allowed; impugned order quashed as regulator failed to prove nexus or manipulative scheme; sale genuine - s.12A(a)-(c), Regs 3(a)-(d),4(1),4(2)...
Appellant's ring-back tone service held OIDAR, taxable domestically for 01.07.2012-31.07.2016; liability confirmed, penalties vacated, remanded for re...
The HC quashed the impugned orders imposing penalty under s.129(3) of the GST Act and allowed the petition. The court found the record established non-generation of Part B of the e-way bill due to a technical error, which was not disputed, and no authority had recorded any finding of mens rea to evade tax. Absent any proven intent to evade payment of tax, the statutory prerequisite for levy of the s.129(3) penalty was not satisfied. In consequence, the penalty and consequential orders were set aside and the petitioner's challenge succeeded.
The HC quashed the impugned orders imposing penalty under s.129(3) of the GST Act and allowed the petition. The court found the record established non-generation of Part B of the e-way bill due to a technical error, which was not disputed, and no authority had recorded any finding of mens rea to evade tax. Absent any proven intent to evade payment of tax, the statutory prerequisite for levy of the s.129(3) penalty was not satisfied. In consequence, the penalty and consequential orders were set aside and the petitioner's challenge succeeded.
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