Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
Input tax credit mismatch between GSTR-3B and GSTR-2A, in relation to import and SEZ procurements, did not by itself establish excess availment where GSTR-2A for the relevant period did not capture such credits by design. The HC noted that the petitioner had disclosed the procurements in GSTR-3B and later in GSTR-9, and that import credit was supported by the Bill of Entry; the demand, interest and penalty on this ground were set aside. On the remaining issues, including corporate guarantee, cross-charges, promotion expenses, merchant export rate, export refund, reverse charge on import of services and medical-consultation credit, the adjudication was found unsustainable for failure to consider the governing provisions, circulars, notifications and submissions, so those findings were remanded for fresh decision.
Input tax credit mismatch between GSTR-3B and GSTR-2A, in relation to import and SEZ procurements, did not by itself establish excess availment where GSTR-2A for the relevant period did not capture such credits by design. The HC noted that the petitioner had disclosed the procurements in GSTR-3B and later in GSTR-9, and that import credit was supported by the Bill of Entry; the demand, interest and penalty on this ground were set aside. On the remaining issues, including corporate guarantee, cross-charges, promotion expenses, merchant export rate, export refund, reverse charge on import of services and medical-consultation credit, the adjudication was found unsustainable for failure to consider the governing provisions, circulars, notifications and submissions, so those findings were remanded for fresh decision.
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