In lieu of the appellant discontinuing the commodity brokerage business, BNP Paribas offered compensation of Rs.40 crores. Pursuant thereto, in a meeting held on 23.05.2008, resolution was passed by the Board of Directors of the appellant accepting the said offer.
Madras High Court held that the imposition of penalty for the minor discrepancy in the variance in the address in the Tax Invoices and the E-Way Bill would not justify the penalty under Section 129(5) of CGST Act.
Allahabad HC dismisses Shiv Trading’s petition challenging GST penalty due to failure to prove genuine transactions and actual physical movement of goods.
Bombay HC directed CBIC to allow GST return rectification by reopening the portal or manually if no revenue loss. A notice and hearing are required if opposed.
Supreme Court overturns Delhi HC ruling on delay condonation in Mool Chandra’s service penalty case. Tribunal’s decision to reject delay condonation challenged.
The Bombay High Court dismisses criminal charges against Hubtown Ltd’s directors for TDS payment delays, citing absence of required notices under IT Act Sections 201 and 278B.
Madras High Court allows Stem Infrastructure to contest tax demand due to accountants negligence, requiring a 10% deposit before reassessment.
Kerala High Court rules that GST cancellation orders based on invalid SCN formats (Form GST REG-31) are void, as seen in Kunhalavi N. v. State Tax Officer.
Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures are now in place.
Allahabad High Court ruled Section 130 of GST Act can’t be applied for excess stock found during search; Section 73/74 should be used for tax determination.
