Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The HC allowed the writ petition filed by the assessee and quashed the detention and seizure orders passed under GST law. The HC held that mere expiry of the e-way bill, in the facts of the case, did not establish any intention to evade tax, particularly when all other requisite documents, including tax invoice mentioning specific engine and body numbers of the two-wheelers, accompanied the goods. The Revenue failed to produce any material indicating prior movement of vehicles with identical identification numbers or any contrary GPS data, while the GPS report supported delivery at the declared destination. As the goods were new, unregistered two-wheelers that could not be lawfully plied on road and there was no evidence of misuse or diversion, the proceedings under detention and seizure were held unsustainable. All consequential demands and penalties were set aside.
The HC allowed the writ petition filed by the assessee and quashed the detention and seizure orders passed under GST law. The HC held that mere expiry of the e-way bill, in the facts of the case, did not establish any intention to evade tax, particularly when all other requisite documents, including tax invoice mentioning specific engine and body numbers of the two-wheelers, accompanied the goods. The Revenue failed to produce any material indicating prior movement of vehicles with identical identification numbers or any contrary GPS data, while the GPS report supported delivery at the declared destination. As the goods were new, unregistered two-wheelers that could not be lawfully plied on road and there was no evidence of misuse or diversion, the proceedings under detention and seizure were held unsustainable. All consequential demands and penalties were set aside.
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