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...
A writ petition challenging denial of transitional credit under Section 140 of the CGST Act was held maintainable because the requested relief was correction of revised TRAN-1 and TRAN-2 forms, a remedy beyond the effective power of the statutory appellate authorities. The Court accepted that the revised forms were filed under a bona fide mistake, noted that the original credit claim had been substantially verified as eligible, and found that refusing correction would create double taxation with no allegation of tax evasion. It therefore quashed the assessment order and consequential demand, permitted rectification of the forms, and remitted the matter for fresh adjudication after hearing and production of supporting documents.
A writ petition challenging denial of transitional credit under Section 140 of the CGST Act was held maintainable because the requested relief was correction of revised TRAN-1 and TRAN-2 forms, a remedy beyond the effective power of the statutory appellate authorities. The Court accepted that the revised forms were filed under a bona fide mistake, noted that the original credit claim had been substantially verified as eligible, and found that refusing correction would create double taxation with no allegation of tax evasion. It therefore quashed the assessment order and consequential demand, permitted rectification of the forms, and remitted the matter for fresh adjudication after hearing and production of supporting documents.
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