Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
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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