Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
HC held that once a valid declaration under SVLDRS was filed and a Discharge Certificate issued, all tax dues for the relevant period stood settled, absent any allegation of falsity, misstatement or suppression. The subsequent demand of interest and penalty by letters and show cause notices, despite such discharge, was held to be ex facie contrary to Sections 124, 126, 128 and 129 of the Finance Act, 2019 and violative of Article 265. HC directed the revenue authority to treat the petitioner's declaration under the "investigation" category and extend the consequential statutory reliefs. The impugned demands were quashed and the petition allowed.
HC held that once a valid declaration under SVLDRS was filed and a Discharge Certificate issued, all tax dues for the relevant period stood settled, absent any allegation of falsity, misstatement or suppression. The subsequent demand of interest and penalty by letters and show cause notices, despite such discharge, was held to be ex facie contrary to Sections 124, 126, 128 and 129 of the Finance Act, 2019 and violative of Article 265. HC directed the revenue authority to treat the petitioner's declaration under the "investigation" category and extend the consequential statutory reliefs. The impugned demands were quashed and the petition allowed.
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