Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
GST demand limitation under Section 73 runs from the due date for the annual return; extensions of those due dates change its commencement, and pandemic-period exclusion must be applied when calculating the three-year period. A notice issued after the resulting deadline cannot be sustained under the ordinary limitation. Recourse to Section 74's five-year period requires the Assessing Officer's satisfaction, based on disclosed foundational facts, that fraud, wilful misstatement or suppression caused the tax shortfall or excess input tax credit. Audit objections and bare statutory assertions are insufficient. The show-cause notice and consequential order were set aside, with liberty for fresh Section 74 proceedings within the applicable extended limitation.
GST demand limitation under Section 73 runs from the due date for the annual return; extensions of those due dates change its commencement, and pandemic-period exclusion must be applied when calculating the three-year period. A notice issued after the resulting deadline cannot be sustained under the ordinary limitation. Recourse to Section 74's five-year period requires the Assessing Officer's satisfaction, based on disclosed foundational facts, that fraud, wilful misstatement or suppression caused the tax shortfall or excess input tax credit. Audit objections and bare statutory assertions are insufficient. The show-cause notice and consequential order were set aside, with liberty for fresh Section 74 proceedings within the applicable extended limitation.
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