Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Attachment of Pre Offence Mortgaged Property remains possible under PMLA; secured creditors may pursue statutory claim and seek auction with undertaki...
Sections 89(1) and 174(2)(e) of the CGST Act could be used only to recover liabilities that had already crystallised under the earlier regime. The High Court held that Section 87 of the Finance Act, 1994 did not permit recovery of a company's tax dues from its directors' personal assets, and the garnishee power in Section 87(b)(i) could not justify attachment of a director's personal bank account for the company's liability. Recovery could proceed only for the separate penalty imposed on the director under Section 78A, and because that penalty had been paid, the lien over the remaining balance was unsustainable.
Sections 89(1) and 174(2)(e) of the CGST Act could be used only to recover liabilities that had already crystallised under the earlier regime. The High Court held that Section 87 of the Finance Act, 1994 did not permit recovery of a company's tax dues from its directors' personal assets, and the garnishee power in Section 87(b)(i) could not justify attachment of a director's personal bank account for the company's liability. Recovery could proceed only for the separate penalty imposed on the director under Section 78A, and because that penalty had been paid, the lien over the remaining balance was unsustainable.
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