Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
For customs valuation, the amended transaction-value regime requires acceptance of the price actually paid or payable in the particular import transaction where buyer and seller are unrelated and price is the sole consideration. Where the original consignee defaulted without payment, bill of entry, title, or delivery, its initial contract did not establish the relevant sale value. The subsequent importer's renegotiated price paid to the overseas supplier was treated as transaction value because no relationship, additional consideration, or excess payment was alleged. Earlier deemed-value rulings under the pre-amendment regime were inapplicable. The majority view sustained the declared value and dismissed Revenue's appeal.
For customs valuation, the amended transaction-value regime requires acceptance of the price actually paid or payable in the particular import transaction where buyer and seller are unrelated and price is the sole consideration. Where the original consignee defaulted without payment, bill of entry, title, or delivery, its initial contract did not establish the relevant sale value. The subsequent importer's renegotiated price paid to the overseas supplier was treated as transaction value because no relationship, additional consideration, or excess payment was alleged. Earlier deemed-value rulings under the pre-amendment regime were inapplicable. The majority view sustained the declared value and dismissed Revenue's appeal.
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