Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
Export proceeds unrealised by a company were treated as Rs. 1.8 crore after allowing adjustments for returned goods and advance remittance, but the Tribunal held that repeated calls, letters, faxes and visits did not amount to reasonable steps for realisation and repatriation because no effort was shown to involve the Indian Mission, Consulate or trade bodies; the company's contravention was therefore sustained. The challenge on delay and laches failed because adjudication could not be measured only from the last export date where enquiry with the authorised dealer bank and RBI, and recovery efforts, were still continuing. Penalties on the legal heir of a later managing director and on two other directors were set aside for lack of involvement, while liability of the promoter-managing director was upheld with reduced penalty.
Export proceeds unrealised by a company were treated as Rs. 1.8 crore after allowing adjustments for returned goods and advance remittance, but the Tribunal held that repeated calls, letters, faxes and visits did not amount to reasonable steps for realisation and repatriation because no effort was shown to involve the Indian Mission, Consulate or trade bodies; the company's contravention was therefore sustained. The challenge on delay and laches failed because adjudication could not be measured only from the last export date where enquiry with the authorised dealer bank and RBI, and recovery efforts, were still continuing. Penalties on the legal heir of a later managing director and on two other directors were set aside for lack of involvement, while liability of the promoter-managing director was upheld with reduced penalty.
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