Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Section 171(1) requires suppliers to pass any additional input tax credit arising from GST implementation to recipients through a commensurate price reduction. Project-specific CA-certified data was accepted because statutory records consolidated figures across projects and could not provide a project-wise split. The post-GST ratio of credit availed to purchase value had declined, showing that no additional input tax credit accrued. Transitional VAT credit passed to eligible purchasers did not concern the applicant, whose agreement was executed after GST implementation and for whom no corresponding VAT credit arose. The DGAP report was accepted and profiteering was not established.
Section 171(1) requires suppliers to pass any additional input tax credit arising from GST implementation to recipients through a commensurate price reduction. Project-specific CA-certified data was accepted because statutory records consolidated figures across projects and could not provide a project-wise split. The post-GST ratio of credit availed to purchase value had declined, showing that no additional input tax credit accrued. Transitional VAT credit passed to eligible purchasers did not concern the applicant, whose agreement was executed after GST implementation and for whom no corresponding VAT credit arose. The DGAP report was accepted and profiteering was not established.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
