Reverse charge and assignment of royalty collection: exemption for excess royalty collectors subject to reconciliation; leaseholders remain liable und...
Authorization requirements for customs brokers and benami shipping bills: tribunal upholds licence revocation and penalties after COVID time limit fou...
Eligibility for notification exemption on imported fertilizers challenged; penalty, interest and confiscation set aside after voluntary payment and no...
GST assessment orders issued under s.74 were challenged on the ground that tax liability was fastened solely on turnover reflected in the income-tax portal, allegedly based on an inflated return, despite a marked mismatch between bank receipts and reported turnover. The Court held that, given the significant discrepancies, the taxpayer's records required forensic examination to ascertain actual turnover and whether liability could be determined merely from the income-tax declaration. Since the impugned orders had also superseded earlier assessments, the matters were remitted to the department to conduct the examination and pass fresh orders on merits subject to stipulated conditions, and the petitions were disposed accordingly. - HC
GST assessment orders issued under s.74 were challenged on the ground that tax liability was fastened solely on turnover reflected in the income-tax portal, allegedly based on an inflated return, despite a marked mismatch between bank receipts and reported turnover. The Court held that, given the significant discrepancies, the taxpayer's records required forensic examination to ascertain actual turnover and whether liability could be determined merely from the income-tax declaration. Since the impugned orders had also superseded earlier assessments, the matters were remitted to the department to conduct the examination and pass fresh orders on merits subject to stipulated conditions, and the petitions were disposed accordingly. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
