Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
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Section 74 proceedings require a clear and express allegation of fraud, wilful misstatement, suppression of facts or intention to evade tax in the show cause notice or order. Mere disclosure of unreported transactions during inspection is insufficient, and the assessee must be specifically put on notice of the offending conduct. Where tax had already been paid before notice and the notice and impugned order contained no such allegation, the proceedings under Section 74 were unsustainable. The impugned orders were set aside and the matter remanded, with liberty to proceed afresh under Section 73 or issue a fresh notice under Section 74 if warranted.
Section 74 proceedings require a clear and express allegation of fraud, wilful misstatement, suppression of facts or intention to evade tax in the show cause notice or order. Mere disclosure of unreported transactions during inspection is insufficient, and the assessee must be specifically put on notice of the offending conduct. Where tax had already been paid before notice and the notice and impugned order contained no such allegation, the proceedings under Section 74 were unsustainable. The impugned orders were set aside and the matter remanded, with liberty to proceed afresh under Section 73 or issue a fresh notice under Section 74 if warranted.
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