Interest on Wrongful Input Tax Credit is mandatory where excess transitional credit was retained and later reversed, and related objections were rejec...
Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
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The court addressed whether parallel proceedings under Sections 73/74 and Section 122 (penalty) create impermissible overlap and whether the show-cause notice could proceed pending resolution of a state appeal; it declined to decide the overlap on merits but ordered the state Appellate Authority to conclude the pending appeal within a limited period - outcome: appeal to be disposed within three weeks and the Central Authorities may proceed with the show-cause notice only after that conclusion. The petitioner may thereafter file a reply raising the overlap and reliance on the CBIC circular; remedies preserved. - HC
The court addressed whether parallel proceedings under Sections 73/74 and Section 122 (penalty) create impermissible overlap and whether the show-cause notice could proceed pending resolution of a state appeal; it declined to decide the overlap on merits but ordered the state Appellate Authority to conclude the pending appeal within a limited period - outcome: appeal to be disposed within three weeks and the Central Authorities may proceed with the show-cause notice only after that conclusion. The petitioner may thereafter file a reply raising the overlap and reliance on the CBIC circular; remedies preserved. - HC
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