Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Concessional Basic Customs Duty on Ethernet switches: classification as enterprise switches upheld, challenge dismissed for lack of substantial law qu...
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The High Court held that the Settlement Commission cannot reopen or rectify its concluded settlement order under Section 154 to impose interest under Section 234B, following Supreme Court precedent. The Commission's rectification order rectifying the settlement order passed under Section 245D(4) was quashed as invalid, and the consequent demand notice was set aside. The court rejected Revenue's submission that interest should be levied from intimation under Section 143(1) until admission, holding that reopening concluded proceedings indirectly would contravene the settled rule against such reopening. Writ petition allowed.
The High Court held that the Settlement Commission cannot reopen or rectify its concluded settlement order under Section 154 to impose interest under Section 234B, following Supreme Court precedent. The Commission's rectification order rectifying the settlement order passed under Section 245D(4) was quashed as invalid, and the consequent demand notice was set aside. The court rejected Revenue's submission that interest should be levied from intimation under Section 143(1) until admission, holding that reopening concluded proceedings indirectly would contravene the settled rule against such reopening. Writ petition allowed.
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