Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
HC quashed reassessment where the reopening was founded on a GST cancellation order that had already been reversed in appeal. The Court noted that the appellate GST order found no fraudulent ITC claim, no violation attracting adjudication, and no basis for the cancellation. The income-tax authority also failed to consider that appellate material, despite its direct relevance to the alleged escapement of income. With no independent material beyond the set-aside GST action, the initiation of reassessment was unwarranted. The order under Section 148A(3) and the consequential notice under Section 148 were set aside.
HC quashed reassessment where the reopening was founded on a GST cancellation order that had already been reversed in appeal. The Court noted that the appellate GST order found no fraudulent ITC claim, no violation attracting adjudication, and no basis for the cancellation. The income-tax authority also failed to consider that appellate material, despite its direct relevance to the alleged escapement of income. With no independent material beyond the set-aside GST action, the initiation of reassessment was unwarranted. The order under Section 148A(3) and the consequential notice under Section 148 were set aside.
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