Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Project-wise anti-profiteering analysis under GST upheld where the Tribunal accepted a case-specific methodology for comparing pre-GST and post-GST ITC, allocated the benefit across similarly situated homebuyers, and rejected objections on natural justice, scope of inquiry, and time limits. It found that additional input tax credit had arisen in the project, that the respondent had not passed on the full recipient-specific benefit, and that excess benefit given to some buyers could not offset shortfall owed to others. The balance amount was sustained with 18% compensatory interest, but penalty was declined because the penal provision was held inapplicable to the period in question.
Project-wise anti-profiteering analysis under GST upheld where the Tribunal accepted a case-specific methodology for comparing pre-GST and post-GST ITC, allocated the benefit across similarly situated homebuyers, and rejected objections on natural justice, scope of inquiry, and time limits. It found that additional input tax credit had arisen in the project, that the respondent had not passed on the full recipient-specific benefit, and that excess benefit given to some buyers could not offset shortfall owed to others. The balance amount was sustained with 18% compensatory interest, but penalty was declined because the penal provision was held inapplicable to the period in question.
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