Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
Petitioner challenged confirmation of a show-cause proposal for reversal of erroneously availed Input Tax Credit; court noted petitioner purportedly reversed the ineligible credit and remitted the matter for fresh adjudication to determine whether interest and penalty are payable. The court directed the respondent to apply the post Finance Act 2022 amendment limiting interest under Section 50 to the cash component of tax and to reconsider penalty liability under the GST enactments (penalty provision invoked in the impugned order). Petitioner must file a reply with documents to the show-cause within 30 days; writ petition disposed accordingly.
Petitioner challenged confirmation of a show-cause proposal for reversal of erroneously availed Input Tax Credit; court noted petitioner purportedly reversed the ineligible credit and remitted the matter for fresh adjudication to determine whether interest and penalty are payable. The court directed the respondent to apply the post Finance Act 2022 amendment limiting interest under Section 50 to the cash component of tax and to reconsider penalty liability under the GST enactments (penalty provision invoked in the impugned order). Petitioner must file a reply with documents to the show-cause within 30 days; writ petition disposed accordingly.
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