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...
Provisional attachment of bank accounts under GST can be relaxed where substitute security adequately protects revenue. The High Court accepted the petitioner's fixed deposit as sufficient security, permitted operation of the attached accounts, and quashed the attachment only to that extent. The investigation, scrutiny of invoices and other material, and any future show cause notice were left unaffected. The deposit was directed to remain available for adjustment against any liability finally determined, and to be returned with accrued interest if the final adjudication favoured the petitioner.
Provisional attachment of bank accounts under GST can be relaxed where substitute security adequately protects revenue. The High Court accepted the petitioner's fixed deposit as sufficient security, permitted operation of the attached accounts, and quashed the attachment only to that extent. The investigation, scrutiny of invoices and other material, and any future show cause notice were left unaffected. The deposit was directed to remain available for adjustment against any liability finally determined, and to be returned with accrued interest if the final adjudication favoured the petitioner.
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