Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
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Input tax credit cannot be denied to a bona fide purchasing dealer who transacted with a registered supplier and complied with statutory requirements merely because the supplier failed to deposit the tax collected from the purchaser. The proper remedy is to proceed against the defaulting supplier, not to shift the burden onto the purchaser by way of vicarious liability. The demand and appellate orders were set aside because the controversy was covered by binding precedent, but the Department retained liberty to act in accordance with law if material shows the transactions were collusive or not bona fide.
Input tax credit cannot be denied to a bona fide purchasing dealer who transacted with a registered supplier and complied with statutory requirements merely because the supplier failed to deposit the tax collected from the purchaser. The proper remedy is to proceed against the defaulting supplier, not to shift the burden onto the purchaser by way of vicarious liability. The demand and appellate orders were set aside because the controversy was covered by binding precedent, but the Department retained liberty to act in accordance with law if material shows the transactions were collusive or not bona fide.
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