Mis-declaration and Concealment: confiscation affirmed, transaction value re-determined and mandatory penalty sustained; redemption allowed on payment...
Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
Deduction under section 43B for GST payable could not be denied merely because the tax audit report showed the liability as outstanding on the date of signing, where the assessee claimed payment was made before the due date for filing the return. The Tribunal held that payment after the audit report date but before the return due date can still qualify for deduction, so the adjustment made in processing the return could not stand solely on the Form 3CD disclosure. The matter was remanded for verification of the actual payment dates, and the addition was to be deleted if the GST had been paid within the statutory time limit.
Deduction under section 43B for GST payable could not be denied merely because the tax audit report showed the liability as outstanding on the date of signing, where the assessee claimed payment was made before the due date for filing the return. The Tribunal held that payment after the audit report date but before the return due date can still qualify for deduction, so the adjustment made in processing the return could not stand solely on the Form 3CD disclosure. The matter was remanded for verification of the actual payment dates, and the addition was to be deleted if the GST had been paid within the statutory time limit.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
