Statutory transfer formalities invalidated alleged share and property transfers, while retrospective record manipulation constituted oppression and mi...
Provisional attachment of laundered funds and equivalent-value property sustained, with statutory protection limited to pension, gratuity and providen...
Insolvency moratorium does not shield company officers from cheque dishonour prosecution for liability arising before corporate insolvency proceedings...
The text clarifies that recovery without adjudication is permissible only where the taxpayer has clearly admitted tax liability in filed returns, and such admitted liability remains unpaid; consequently, coercive recovery cannot be invoked for alleged wrongful utilisation of input tax credit without first completing adjudicatory assessment proceedings that quantify tax, interest, fees and penalties. Alleged misuse of input tax credit must be addressed through assessment processes; only after adjudication can recovery steps be taken. The impugned recovery action was set aside and interest collected was ordered to be refunded to the taxpayer.
The text clarifies that recovery without adjudication is permissible only where the taxpayer has clearly admitted tax liability in filed returns, and such admitted liability remains unpaid; consequently, coercive recovery cannot be invoked for alleged wrongful utilisation of input tax credit without first completing adjudicatory assessment proceedings that quantify tax, interest, fees and penalties. Alleged misuse of input tax credit must be addressed through assessment processes; only after adjudication can recovery steps be taken. The impugned recovery action was set aside and interest collected was ordered to be refunded to the taxpayer.
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