Deferred Payment of Customs Duty extended to Eligible Manufacturer Importers with electronic registration and ICEGATE authentication for conditional c...
Tariff classification determines GST schedule and rate; beverages in Schedule III attract the higher rate, tea extracts and syrups in Schedule I attra...
Fraudulent trading requires cogent evidence of intent to defraud; ordinary-course payments protected, except post-insolvency withdrawals must be resto...
Religious purpose exclusion versus charitable purpose: non overriding religious objects do not attract Explanation 3, registration directed under sect...
Criminal prosecution under ss. 276C(1) and 277 of the Income-tax Act was examined where the complaint was founded on alleged concealment corresponding to a penalty for concealed income. Since the penalty order forming the very basis of the prosecution had been set aside by the Tribunal and remained undisturbed in further appellate proceedings, the substratum of the complaint ceased to exist. Applying the principle that when concealment findings/penalty are annulled the prosecution cannot survive, continuation of the criminal trial would be an empty formality. Consequently, the complaint case and all consequential proceedings were quashed. - HC
Criminal prosecution under ss. 276C(1) and 277 of the Income-tax Act was examined where the complaint was founded on alleged concealment corresponding to a penalty for concealed income. Since the penalty order forming the very basis of the prosecution had been set aside by the Tribunal and remained undisturbed in further appellate proceedings, the substratum of the complaint ceased to exist. Applying the principle that when concealment findings/penalty are annulled the prosecution cannot survive, continuation of the criminal trial would be an empty formality. Consequently, the complaint case and all consequential proceedings were quashed. - HC
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