Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The HC allowed the petition and quashed the impugned orders, holding the assessing authorities exceeded jurisdiction in initiating proceedings under Section 73. On review of original records the court found the petitioner to be a work-contractor awarded contracts by a state agency for the relevant assessment years, and that payments were effected after GST implementation; however, that temporal change did not confer jurisdiction on GST authorities to levy tax, interest or penalty for pre-GST transactions merely on a GSTR-3B/Form-26AS mismatch. The HC held the proper course was notification to the pre-GST assessing authority under the applicable indirect tax law, not initiation of Section 73 proceedings under the GST regime.
The HC allowed the petition and quashed the impugned orders, holding the assessing authorities exceeded jurisdiction in initiating proceedings under Section 73. On review of original records the court found the petitioner to be a work-contractor awarded contracts by a state agency for the relevant assessment years, and that payments were effected after GST implementation; however, that temporal change did not confer jurisdiction on GST authorities to levy tax, interest or penalty for pre-GST transactions merely on a GSTR-3B/Form-26AS mismatch. The HC held the proper course was notification to the pre-GST assessing authority under the applicable indirect tax law, not initiation of Section 73 proceedings under the GST regime.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
