Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
HC held that initiation of proceedings under s.130 of the GST Act based solely on alleged excess stock observed during a survey, without physical counting, was unsustainable. The court reiterated that registered persons must maintain accounts under s.35 and that s.35(6) permits determination of tax on unaccounted goods with applicability of ss.73/74 mutatis mutandis, but proceedings under s.130 are not the appropriate mechanism where excess stock is merely noted on survey. In consequence, the impugned orders were quashed and the petition allowed, with directions accordingly, and no order for proceedings under s.130 to be sustained in the present facts.
HC held that initiation of proceedings under s.130 of the GST Act based solely on alleged excess stock observed during a survey, without physical counting, was unsustainable. The court reiterated that registered persons must maintain accounts under s.35 and that s.35(6) permits determination of tax on unaccounted goods with applicability of ss.73/74 mutatis mutandis, but proceedings under s.130 are not the appropriate mechanism where excess stock is merely noted on survey. In consequence, the impugned orders were quashed and the petition allowed, with directions accordingly, and no order for proceedings under s.130 to be sustained in the present facts.
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