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...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Where recovery of a disputed demand was stayed under section 220(6), the High Court held that the Department could not adjust a later-year refund against that stayed demand. The adjustment was treated as illegal, arbitrary and perfunctory because the stay remained operative until disposal of the first appeal. The Court exercised writ jurisdiction to interfere and directed release of the refund computed under the intimation for the later assessment year, together with statutory interest under section 244A, within the time fixed by the Court.
Where recovery of a disputed demand was stayed under section 220(6), the High Court held that the Department could not adjust a later-year refund against that stayed demand. The adjustment was treated as illegal, arbitrary and perfunctory because the stay remained operative until disposal of the first appeal. The Court exercised writ jurisdiction to interfere and directed release of the refund computed under the intimation for the later assessment year, together with statutory interest under section 244A, within the time fixed by the Court.
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