The ITAT held that revisional powers under Section 263 cannot be exercised when the Assessing Officer has already examined the issues during scrutiny. Mere disagreement with the assessment cannot justify revision.
SC held that creditors may initiate insolvency proceedings against both principal debtor and corporate guarantor simultaneously. Ruling confirms that co-extensive liability permits parallel CIRP under IBC.
The Finance Act 2023 introduced a 12.5% LTCG tax without indexation as an alternative to 20% with indexation. Taxpayers must compare both options carefully before choosing the beneficial one.
The benchmark price was incorrectly determined because material economic differences between Thailand and Vietnam markets were not adjusted under the CUP method.
नए वित्त वर्ष में प्रवेश से पहले व्यवसायों को कई महत्वपूर्ण जीएसटी अनुपालन कार्य पूरे करने होंगे। सही तैयारी से ब्याज, जुर्माना और विभागीय नोटिस से बचा जा सकता है।
The Tribunal ruled that unverified KOT data and handwritten loose sheets are insufficient to establish unaccounted sales. Additions based on assumptions and unsupported survey statements were deleted.
The Court held that merely uploading an order on the GST portal is not sufficient communication under Section 107. Limitation begins only after proper service under Section 169 is established.
The Bombay High Court ruled that legal services provided by an advocate to a partnership firm of advocates are exempt under service tax notifications. The tax demand and recovery proceedings were therefore set aside.
Legal principles confirm that statements recorded during GST investigations cannot alone establish tax liability. Their evidentiary value depends on voluntariness, corroboration, and supporting documentary evidence.
Courts have emphasized that GST searches are meant to gather evidence, not to collect tax during the raid. Payments should only be made later through proper procedure to avoid coercion.
