Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
Additional input tax credit available to a real-estate developer after GST must be passed to eligible homebuyers through a commensurate reduction in price. Free structural upgrades, fittings or other collateral benefits cannot replace the prescribed price reduction, irrespective of their asserted value. Where higher consideration was collected inclusive of GST, the unpassed benefit includes the corresponding GST component and must be returned to homebuyers. The anti-profiteering framework also requires interest at 18 per cent per annum from collection of the higher amount until repayment. Penalty is not warranted where the relevant contravening conduct substantially concluded before the penalty provision came into force.
Additional input tax credit available to a real-estate developer after GST must be passed to eligible homebuyers through a commensurate reduction in price. Free structural upgrades, fittings or other collateral benefits cannot replace the prescribed price reduction, irrespective of their asserted value. Where higher consideration was collected inclusive of GST, the unpassed benefit includes the corresponding GST component and must be returned to homebuyers. The anti-profiteering framework also requires interest at 18 per cent per annum from collection of the higher amount until repayment. Penalty is not warranted where the relevant contravening conduct substantially concluded before the penalty provision came into force.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
