The High Court examined whether proceedings under Section 138 NI Act could be quashed on the plea that cheques were issued as security. It held that such a defence involves disputed facts and must be tested at trial.
The issue was whether commissions from foreign universities attract GST as intermediary services. The court held that principal-to-principal consultancy services qualify as export, entitling refund.
The court ruled that depositing money does not convert a non-bailable GST offence into a bailable one, yet upheld bail considering custody, punishment limits, and surrounding circumstances.
The appeal was dismissed as the assessee had already offered the disputed income to tax at 30%. The ruling clarifies that reassessment cannot survive when there is no loss of revenue or escaped income.
The High Court held that car audio systems assembled in India using imported and local components were domestic goods, taxable at the lower rate, and not imported products.
The Court set aside the detention order and notice after finding they were not issued and communicated within the mandatory seven-day period under Section 129, rendering the action unsustainable.
Relying on precedents including rulings of the Delhi High Court, the Tribunal held that extrapolation across years is impermissible. The addition was struck down as being based on assumption rather than evidence.
The Tribunal held that once business receipts are taxed on an estimated basis, separate additions for payments and assets from the same receipts are impermissible. Only a net-profit estimation was sustained, deleting multiple cascading additions.
The tribunal accepted that allotment confers enforceable capital rights capable of transfer. The ruling clarifies that proceeds from such transfers must be assessed under capital gains, not deemed income.
The Tribunal found that indexation was wrongly applied from a later year. It held that long-term capital gains must be computed from the first year the property was held.
