Religious purpose exclusion versus charitable purpose: non overriding religious objects do not attract Explanation 3, registration directed under sect...
Search-assessment proviso jurisdiction, time-barred valuation reports, and denial of cross-examination vitiate valuation-based and confession-based ad...
Proceeds of crime: provisional attachment confirmed; equivalent value attachment and acquisition date fair market value upheld, Covid exclusion preser...
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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