Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Once an application under section 220(6) of the Income-tax Act, 1961 was allowed and the assessee was treated as not in default, the consequential demand for the earlier assessment year stood stayed, and the revenue lacked authority to adjust refunds of a later assessment year against that stayed demand. As the assessee had already deposited more than 20% of the disputed tax to secure stay, the adjustment made from the refundable amount of the subsequent assessment year was held impermissible. The revenue was directed to refund the amount adjusted pursuant to the intimation, excluding the amount deposited for stay, within the stipulated time. - HC
Once an application under section 220(6) of the Income-tax Act, 1961 was allowed and the assessee was treated as not in default, the consequential demand for the earlier assessment year stood stayed, and the revenue lacked authority to adjust refunds of a later assessment year against that stayed demand. As the assessee had already deposited more than 20% of the disputed tax to secure stay, the adjustment made from the refundable amount of the subsequent assessment year was held impermissible. The revenue was directed to refund the amount adjusted pursuant to the intimation, excluding the amount deposited for stay, within the stipulated time. - HC
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