Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
An advance ruling application was held non-admissible because it sought to regularise a completed transaction: the prescribed fee had already been paid before the ruling request, so the matter lay outside the advance ruling mechanism. On taxability, the permission granted for conversion of wetland to dry land was treated as a specific regulatory service conferring a direct private benefit, making the statutory fee consideration for supply of service. The activity was held outside the functions entrusted to Panchayats under Article 243G and the Eleventh Schedule, so the claimed exemption failed. Accordingly, GST was held payable under reverse charge on the fee.
An advance ruling application was held non-admissible because it sought to regularise a completed transaction: the prescribed fee had already been paid before the ruling request, so the matter lay outside the advance ruling mechanism. On taxability, the permission granted for conversion of wetland to dry land was treated as a specific regulatory service conferring a direct private benefit, making the statutory fee consideration for supply of service. The activity was held outside the functions entrusted to Panchayats under Article 243G and the Eleventh Schedule, so the claimed exemption failed. Accordingly, GST was held payable under reverse charge on the fee.
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