Pre-amendment reassessment limitation bars late notices under the preserved regime, invalidating consequential reassessment for affected earlier asses...
Cash-sales explanations for bank deposits require documentary reconciliation; reassessment notice survived where effective response time was available...
Functional comparability in transfer pricing prevents ad hoc arm's length adjustments where functions, assets, risks and reliable comparables are unes...
A BOT road concession under GST was treated as a works contract supply because the concessionaire undertook construction, operation and maintenance of immovable property, and the right to collect toll with other contractual rights constituted non-monetary consideration by way of barter. The Court held that the sub-contract did not extinguish the concessionaire's separate tax liability under its agreement with NHAI, as the two contracts were distinct and there was no privity with the EPC contractor. The claimed exemption for toll access service was denied because it does not extend to construction service under Heading 9954; toll collection rights were treated as deferred consideration for construction. The writ was entertained since the tribunal was non-functional, but the challenge ultimately failed.
A BOT road concession under GST was treated as a works contract supply because the concessionaire undertook construction, operation and maintenance of immovable property, and the right to collect toll with other contractual rights constituted non-monetary consideration by way of barter. The Court held that the sub-contract did not extinguish the concessionaire's separate tax liability under its agreement with NHAI, as the two contracts were distinct and there was no privity with the EPC contractor. The claimed exemption for toll access service was denied because it does not extend to construction service under Heading 9954; toll collection rights were treated as deferred consideration for construction. The writ was entertained since the tribunal was non-functional, but the challenge ultimately failed.
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