NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
The HC quashed cancellation of GST registration where the show-cause notice was cyclostyled, the authority ignored the taxpayer's reply, and the cancellation order departed from the notice without particulars. The Court held that such a mechanical exercise showed patent non-application of mind and failure to act in accordance with the statute. It also ruled that the availability of a statutory revocation remedy did not bar interference under Article 226 in these circumstances. The cancellation order was set aside and the GST registration restored.
The HC quashed cancellation of GST registration where the show-cause notice was cyclostyled, the authority ignored the taxpayer's reply, and the cancellation order departed from the notice without particulars. The Court held that such a mechanical exercise showed patent non-application of mind and failure to act in accordance with the statute. It also ruled that the availability of a statutory revocation remedy did not bar interference under Article 226 in these circumstances. The cancellation order was set aside and the GST registration restored.
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