Sec. 17 of Prevention of Money Laundering Act – Where an order to freeze bank accounts of petitioners u/s 17(1A) had not been passed, action of ED in directing bank, not to entertain debit transactions from bank account of petitioners was not legally sustainable.
C. Gopal Reddy and Co. v. Directorate of Enforcement – [2023] 152 taxmann.com 359 (Andhra Pradesh).
SLP dismissed against HC ruling that in an investigation aimed at detecting tax evasion under GST Act, cash cannot be seized, especially when cash does not form part of stock in trade of business.
State Tax Officer v. Shabu George – [2023] 153 taxmann.com 138 (SC).
CBIC issues Central Goods and Services Tax (Second Amendment) Rules, 2023.
Notification No. 38/2023 – Central Tax, dated 4-8-2023.
Special procedure notified which shall be adopted by ECOs w.r.t. supplies made by unregistered persons.
Notification No. 37/2023 – Central Tax, dated 4-8-2023.
CBIC notifies special procedure for the electronic commerce operators (ECOs) in respect of supply of goods made by composition dealers.
Notification No. 36/2023 – Central Tax, dated 4-8-2023.
Intention to evade tax is a pre-requisite for imposing a penalty u/s 129 of CGST Act.
Bhawani Traders v. State of U.P. – [2023] 153 taxmann.com 86 (Allahabad).
Action against supplier is essential for non-reflection of invoices before seeking reversal of ITC from recipient.
Suncraft Energy (P.) Ltd. v. Asstt. Commissioner State Tax – [2023] 153 taxmann.com 81 (Calcutta).
CBDT extends the applicability of TP Safe Harbour Rules till AY 2023-24.
Notification No. 58/2023, dated 9-8-2023.
Sec. 2(15) – Charitable Purpose – SLP dismissed against order of the HC that if dominant activity of charitable institution was not business, trade or commerce, merely because a fee or some other consideration was collected or received by institution, it would not lose its character of having been established for a charitable purpose.
CIT (E) v. India Trade Promotion Organisation – [2023] 152 taxmann.com 491 (SC).
Penalty – AY 2009-10 – No penalty u/s 271D for dealing in cash deposits as assessee, a non banking finance company, dealt with depositors which belonged to rural areas where adequate banking facilities were not available.
CIT v. Sahara India Financial Corp. Ltd. – [2023] 153 taxmann.com 225 (SC).