Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-w...
Entitlement to concessional IGST at 0.1% under Notification No. 41/2017-I.T.(Rate) turns on strict compliance with the Notification's prescribed conditions, particularly that the registered recipient must place an order on the registered supplier and goods must move from the registered supplier either directly to the export point or to a registered warehouse as specified. The court held that the scheme contemplates only the registered supplier and registered recipient and that supply to a third party does not meet the conditions; purposive construction in favour of the taxpayer could not override clear, express conditions. Outcome: concession denied and writ dismissed.
Entitlement to concessional IGST at 0.1% under Notification No. 41/2017-I.T.(Rate) turns on strict compliance with the Notification's prescribed conditions, particularly that the registered recipient must place an order on the registered supplier and goods must move from the registered supplier either directly to the export point or to a registered warehouse as specified. The court held that the scheme contemplates only the registered supplier and registered recipient and that supply to a third party does not meet the conditions; purposive construction in favour of the taxpayer could not override clear, express conditions. Outcome: concession denied and writ dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
