Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Additional input tax credit arising in a construction project must be passed to eligible buyers through commensurate price reductions under the anti-profiteering framework. Buyer-wise verification may establish that substantial credit has been passed on while identifying outstanding benefit due to remaining recipients. Unpassed benefit attracts interest from the date of supply because recipients were deprived of the monetary benefit; it cannot generally be withheld against disputed consideration where a separate consumer dispute remains pending. Continuing failure to pass on benefit after the penalty provision took effect can also attract a penalty, subject to the statutory relief available where the profiteered amount is deposited within the prescribed period.
Additional input tax credit arising in a construction project must be passed to eligible buyers through commensurate price reductions under the anti-profiteering framework. Buyer-wise verification may establish that substantial credit has been passed on while identifying outstanding benefit due to remaining recipients. Unpassed benefit attracts interest from the date of supply because recipients were deprived of the monetary benefit; it cannot generally be withheld against disputed consideration where a separate consumer dispute remains pending. Continuing failure to pass on benefit after the penalty provision took effect can also attract a penalty, subject to the statutory relief available where the profiteered amount is deposited within the prescribed period.
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