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...
Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
For GST anti-profiteering in an ongoing real-estate project, completion is reckoned from actual issuance of the Occupancy Certificate, not from filing the application. The discussion states that post-GST input tax credit benefits may be quantified by comparing pre- and post-GST ITC-to-purchase-value ratios using certified actual data, and apportioned to purchasers. Where homebuyers are identifiable from supplier records, the profiteered amount must be returned to them with interest; deposit in Consumer Welfare Funds is residual where recipients cannot genuinely be identified. It also notes that a penalty provision introduced after the investigation period cannot apply retrospectively without express statutory authority.
For GST anti-profiteering in an ongoing real-estate project, completion is reckoned from actual issuance of the Occupancy Certificate, not from filing the application. The discussion states that post-GST input tax credit benefits may be quantified by comparing pre- and post-GST ITC-to-purchase-value ratios using certified actual data, and apportioned to purchasers. Where homebuyers are identifiable from supplier records, the profiteered amount must be returned to them with interest; deposit in Consumer Welfare Funds is residual where recipients cannot genuinely be identified. It also notes that a penalty provision introduced after the investigation period cannot apply retrospectively without express statutory authority.
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