The Companies Act, 2013 limits immunity for non-executive directors by linking liability to knowledge and diligence. Courts now require active oversight rather than passive board membership.
This piece explains how automated GST and income tax reforms are reshaping taxpayer compliance. The key takeaway is that technology now closely monitors filings, making accuracy essential.
The Court ruled that “sufficient cause” must explain the entire limitation period, not just post-expiry delay. Negligence or inaction, including by government bodies, cannot justify condonation.
The court held that Section 74 cannot be used unless fraud, wilful misstatement, or suppression with intent to evade tax is specifically alleged and proved. In the absence of these ingredients, the entire GST proceeding is without jurisdiction and must fail.
Authorities have clarified that compulsory service charges violate consumer law, reaffirming that tips must be voluntary and cannot be added by default to bills.
Capital gains exemptions on property sales often lead to litigation due to Section 54 timelines and unclear date of transfer in transactions.
This explains how IDS refunds work under GST for MOOWR and DTA supplies. The key takeaway is that refunds are limited to input goods ITC under Rule 89(5).
The issue was whether transporters can claim ITC on bio-diesel. The ruling confirms ITC is allowed when GST is paid under forward charge.
This examines why fast-track GST approvals are sometimes followed by scrutiny. The takeaway is that auto-approval does not guarantee post-registration certainty.
Courts held that Section 16(2)(c) cannot be applied mechanically to deny ITC to honest buyers. ITC denial must be confined to fraudulent or collusive transactions.
