Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
Cancellation of GST registration for non-filing of returns may be dropped where the registered person furnishes all pending returns and pays the tax dues, interest and late fee, as reflected in the proviso to Rule 22(4) of the CGST Rules. The text notes that the cancellation power under Section 29(2)(c) extends to non-filing for six continuous months, but serious civil consequences justify permitting restoration on compliance. It also states that expiry of the revocation timeline was not treated as a bar in the circumstances discussed. The petitioner was given two months to approach the authority, which was directed to consider restoration expeditiously in accordance with law.
Cancellation of GST registration for non-filing of returns may be dropped where the registered person furnishes all pending returns and pays the tax dues, interest and late fee, as reflected in the proviso to Rule 22(4) of the CGST Rules. The text notes that the cancellation power under Section 29(2)(c) extends to non-filing for six continuous months, but serious civil consequences justify permitting restoration on compliance. It also states that expiry of the revocation timeline was not treated as a bar in the circumstances discussed. The petitioner was given two months to approach the authority, which was directed to consider restoration expeditiously in accordance with law.
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