Faceless reassessment jurisdiction turned on retrospective AO definition, with later faceless-assessment changes treated as clarificatory and procedur...
Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
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Input tax credit benefits in ongoing real estate projects must be passed to all eligible purchasers, including those booking flats after GST where construction continued beyond its introduction. The benefit is project-specific, and renegotiated prices do not establish a commensurate reduction without transparent evidence. Unpassed amounts must be refunded to identified homebuyers rather than deposited in the Consumer Welfare Fund; excess benefit given to some purchasers cannot be set off against amounts due to others. Profiteering includes GST charged on an inflated base price. Interest accrues from each purchaser's last instalment payment until refund. Anti-profiteering penalties do not apply where the completed contravention predated the penalty provision's commencement.
Input tax credit benefits in ongoing real estate projects must be passed to all eligible purchasers, including those booking flats after GST where construction continued beyond its introduction. The benefit is project-specific, and renegotiated prices do not establish a commensurate reduction without transparent evidence. Unpassed amounts must be refunded to identified homebuyers rather than deposited in the Consumer Welfare Fund; excess benefit given to some purchasers cannot be set off against amounts due to others. Profiteering includes GST charged on an inflated base price. Interest accrues from each purchaser's last instalment payment until refund. Anti-profiteering penalties do not apply where the completed contravention predated the penalty provision's commencement.
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