Additions for alleged on-money payments were disallowed because the evidence relied on by authorities contained errors and lacked authenticity. The decision highlights the need for corroborated, primary evidence in tax proceedings.
The Court held that a tax demand cannot be sustained solely on a fixed 2:1:3 input-output ratio and must be supported by evidence of suppressed outward supply.
The judgment highlights that GST penalties require proof of intent to evade tax; mere technical lapses, such as e-way bill expiry due to traffic restrictions, are insufficient.
The new DTAA protocol broadens information exchange, introduces criminal tax matters, and strengthens cooperation in tax recovery between the two countries.
The judgment confirms that assets generated from betting supported by forgery, cheating or conspiracy qualify as proceeds of crime under PMLA. It upholds ED’s attachment orders in a major betting and hawala case.
The Court ruled that assessment notices for earlier years were void because the tax authorities did not lodge claims before the resolution plan was approved. Once the plan attained finality, all excluded claims stood extinguished under binding IBC principles. The judgment also holds that the revenue cannot deny carry-forward of losses after failing to participate in the insolvency process.
The Tribunal found that notices lacking classification as limited, complete, or manual scrutiny violated CBDT instructions. As a result, the assessment under section 143(3) was quashed as void ab initio.
Learn the major updates in GSTR-9 and GSTR-9C for FY 2024-25, including new ITC reporting tables, cross-year tracking, and audit-focused compliance.
The CBI arrests ITAT officials and an advocate in Jaipur for bribery, seizing over Rs. 1 crore and exposing an organized network settling appeals for cash.
The Supreme Court quashed criminal proceedings under Sections 406/420 IPC, holding that no prima facie case existed against the accused. The ruling highlights that civil disputes cannot be turned into vindictive criminal cases.
