Clarifies that Form PAS-6 must be filed once ISIN is obtained, even if no shares are in demat form. Highlights the strict applicability under Rule 9A/9B and the importance of compliance.
Explains the requirement of CTE before setup and CTO before operations. Highlights how both approvals ensure compliance and prevent legal consequences.
The tribunal permitted substitution of original petitioners with a new shareholder after transfer of shares. The key takeaway is that class action proceedings can continue with a successor shareholder if ownership changes.
The Court held that input tax credit cannot be restricted to the month of invoice when business practices require later accounting. It ruled that such restriction defeats the objective of avoiding cascading taxation.
The Court held that input tax credit claimed on invoices from non-existent dealers justified penalty under VAT law. It reaffirmed that the burden of proof lies on the assessee and cannot shift to the Revenue.
The Court set aside a show cause notice that combined several financial years into one proceeding. It held that each assessment year must be treated separately under Section 73 of the CGST Act.
The Court held that each financial year creates a separate cause of action, making a consolidated notice legally unsustainable. It quashed the notice and allowed fresh year-wise proceedings.
The ruling found that issuing a single notice for multiple tax years violates statutory requirements. The Court quashed the notice and permitted authorities to issue separate notices for each year.
The case examined whether a modified return could be scrutinized again after assessment. The ruling clarified that once assessment is completed considering reorganisation, further scrutiny is impermissible.
The issue was whether a notice granting less than the statutory minimum time is valid. The tribunal held that giving less than 7 days violates mandatory provisions, rendering the notice and entire reassessment proceedings invalid.
