Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
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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