Advance pricing agreement methodology can guide benchmarking for non-covered years when functions, assets, risks and activities remain materially unch...
Tax-audit exemption for substantially State-funded educational universities prevents audit-failure penalties where income qualifies for statutory exem...
Functional, asset and risk analysis excludes diversified technology companies from captive software development comparables under cost-plus arrangemen...
Mobile-phone electronic evidence failed to establish customs undervaluation, while duty survived on non-authentic origin certificates without importer...
Automotive radio classification treats integrated infotainment features as supplementary, placing complete and qualifying unassembled units under the ...
Separate corporate personality prevents directors from being personally liable for company deposits without a guarantee or independent legal undertaki...
Section 67(2) of the CGST Act is described as not authorising seizure of cash merely because it is suspected to represent unaccounted sale proceeds. Cash is excluded from "goods" and, under an ejusdem generis construction, "things" is confined to material with evidentiary relevance alongside documents and books. Seizure requires objectively supported reasons to believe satisfying statutory conditions; a later adjudicatory finding cannot cure absent authority at the time of seizure. A jurisdictional challenge to such seizure may proceed despite an alternative appellate remedy. Release remains subject to any independently lawful restraint or attachment, with applicable interest.
Section 67(2) of the CGST Act is described as not authorising seizure of cash merely because it is suspected to represent unaccounted sale proceeds. Cash is excluded from "goods" and, under an ejusdem generis construction, "things" is confined to material with evidentiary relevance alongside documents and books. Seizure requires objectively supported reasons to believe satisfying statutory conditions; a later adjudicatory finding cannot cure absent authority at the time of seizure. A jurisdictional challenge to such seizure may proceed despite an alternative appellate remedy. Release remains subject to any independently lawful restraint or attachment, with applicable interest.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
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