Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Shares transferred under a MoU and share purchase agreement were held to be benami property because the arrangement was not a genuine arm's length commercial deal. The transferor had already funded the original acquisition, the transferee paid only a negligible upfront amount, and the balance depended on a future sale that never materialised. The lien and pledge terms kept effective control with the transferor, while the transferee lacked independent financial capacity and used dividends from the same shares to make payment. On these facts, both limbs of Section 2(9)(A) were satisfied, so the Adjudicating Authority erred in treating the transfer as genuine; the provisional attachment was restored.
Shares transferred under a MoU and share purchase agreement were held to be benami property because the arrangement was not a genuine arm's length commercial deal. The transferor had already funded the original acquisition, the transferee paid only a negligible upfront amount, and the balance depended on a future sale that never materialised. The lien and pledge terms kept effective control with the transferor, while the transferee lacked independent financial capacity and used dividends from the same shares to make payment. On these facts, both limbs of Section 2(9)(A) were satisfied, so the Adjudicating Authority erred in treating the transfer as genuine; the provisional attachment was restored.
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