Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Input tax credit cannot be denied to a bona fide purchasing dealer merely because the supplier failed to deposit the tax collected from the buyer; the Department's remedy lies against the defaulting supplier, not against the purchaser. That protection, however, does not extend to sham, collusive, or otherwise non-bona fide transactions, and the authorities may proceed where material shows such infirmity. Applying the Division Bench ruling already accepted by both sides, the Court set aside the impugned demand order and allowed the writ petition, while preserving liberty to act in accordance with law if the transactions are shown to be collusive or lacking bona fides.
Input tax credit cannot be denied to a bona fide purchasing dealer merely because the supplier failed to deposit the tax collected from the buyer; the Department's remedy lies against the defaulting supplier, not against the purchaser. That protection, however, does not extend to sham, collusive, or otherwise non-bona fide transactions, and the authorities may proceed where material shows such infirmity. Applying the Division Bench ruling already accepted by both sides, the Court set aside the impugned demand order and allowed the writ petition, while preserving liberty to act in accordance with law if the transactions are shown to be collusive or lacking bona fides.
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