Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
Bona fide correction of GST return particulars and invoice classification errors cannot be denied merely because the taxpayer seeks to amend an earlier disclosure. The High Court treated the issue as covered by prior decisions and held that the sole basis of the show-cause notice, namely refusal to accept the corrected returns, was unsustainable. As that foundation failed, the notice and all consequential proceedings could not survive. The Court quashed the notice and directed acceptance of the corrected returns, with further action to proceed in accordance with law.
Bona fide correction of GST return particulars and invoice classification errors cannot be denied merely because the taxpayer seeks to amend an earlier disclosure. The High Court treated the issue as covered by prior decisions and held that the sole basis of the show-cause notice, namely refusal to accept the corrected returns, was unsustainable. As that foundation failed, the notice and all consequential proceedings could not survive. The Court quashed the notice and directed acceptance of the corrected returns, with further action to proceed in accordance with law.
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