A special court imposed five years’ rigorous imprisonment and heavy fines after finding assets far beyond known income. The ruling underscores strict enforcement against unexplained wealth held by public officials.
Government advisories revised the IMS process to stop unfair tax escalation on credit note rejection. The key takeaway is balanced treatment of suppliers and recipients.
The rules require robust risk management, cybersecurity, record-keeping, and continuous surveillance to curb fraud and market abuse.
The Supreme Court held that extended incarceration without trial commencement breaches the right to life and speedy trial. Statutory bail restrictions cannot justify indefinite custody when proceedings show no real progress.
ITAT Mumbai held that TDS credit duly reflected in Form 26AS cannot be denied just because of some procedural lapse. Accordingly, order is set aside and the present appeal is allowed.
Andhra Pradesh High Court held that State becomes liable to compensation on account of theft of seized silver and cash which was carried out in the police station. Accordingly, the writ petition is allowed.
Andhra Pradesh High Court held that supply of electricity by petitioner to Power Trading Corporation of India is not export supply of goods and hence refund is not admissible. However, directed to claim refund of ITC relating to supply of electricity directly to Bangladesh Power Development Board.
NCLAT Delhi held that the contractual grace period did not postpone the “occurrence” of default, it merely gave the debtor additional time to rectify it before triggering the contractual consequences. Thus, application u/s. 7 not being barred by section 10A is rightly admitted.
The issue was failure to provide full allottee particulars in PAS-3. The key takeaway is that missing PAN or email details can trigger penalties under Section 450.
The issue involved prolonged delay in filing Form MGT-14 for approval of annual accounts. The authority held that such delay attracts residuary penalty despite subsequent compliance.
