Capital Gain Deductibility: proportionate IPO and PMS expenses held allowable against capital gains where netting and nexus to transfer are establishe...
Admissibility of Documentary Evidence: appellate authority may admit self explanatory documents on first production and uphold deletion of unexplained...
Two distinct authorities issued separate demands and penalties for delayed filing of GSTR-3B returns for the same period, resulting in duplication of proceedings and double taxation; the impugned administrative action was held unsustainable and consequently quashed, with the writ petition allowed. The legal points focus on duplication of proceedings as a bar to multiple demands for the same tax period, the resultant double taxation, liability for interest and penalty arising from delayed GSTR-3B filings, and the availability of writ relief to challenge overlapping tax proceedings.
Two distinct authorities issued separate demands and penalties for delayed filing of GSTR-3B returns for the same period, resulting in duplication of proceedings and double taxation; the impugned administrative action was held unsustainable and consequently quashed, with the writ petition allowed. The legal points focus on duplication of proceedings as a bar to multiple demands for the same tax period, the resultant double taxation, liability for interest and penalty arising from delayed GSTR-3B filings, and the availability of writ relief to challenge overlapping tax proceedings.
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