Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Rectification was held maintainable where the earlier appellate direction wrongly assumed that land cost had not already been debited in the assessee's accounts and, under the joint development arrangement, treated construction cost as the assessee's cost. The Tribunal held that no provision allowed substitution of actual cost with fair market value or another notional value for computing profits for section 80-IB(10), so the deduction had to be recomputed on the profits disclosed in the Profit and Loss Account. It also held that the doctrine of merger did not apply because the earlier round had decided only eligibility in principle, not quantification, making rejection of rectification on merger grounds unjustified.
Rectification was held maintainable where the earlier appellate direction wrongly assumed that land cost had not already been debited in the assessee's accounts and, under the joint development arrangement, treated construction cost as the assessee's cost. The Tribunal held that no provision allowed substitution of actual cost with fair market value or another notional value for computing profits for section 80-IB(10), so the deduction had to be recomputed on the profits disclosed in the Profit and Loss Account. It also held that the doctrine of merger did not apply because the earlier round had decided only eligibility in principle, not quantification, making rejection of rectification on merger grounds unjustified.
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