Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Demand and penalty-initiation notices cannot rest on an order expressly issued as a draft assessment order. Where proposed disallowances remain proposals, no demand or penalty notice is issued, and the taxpayer retains the right to accept variations or object before final assessment, the payable sum has not been finally determined. Such a defect is not a mere uploading error curable through Section 292B, especially without a subsequent corrective or clarificatory order. Draft assessment procedure is also unavailable where the Transfer Pricing Officer makes no variation to returned income from international transactions; the taxpayer is then not an eligible assessee under Section 144C. The draft order and consequential notices were set aside.
Demand and penalty-initiation notices cannot rest on an order expressly issued as a draft assessment order. Where proposed disallowances remain proposals, no demand or penalty notice is issued, and the taxpayer retains the right to accept variations or object before final assessment, the payable sum has not been finally determined. Such a defect is not a mere uploading error curable through Section 292B, especially without a subsequent corrective or clarificatory order. Draft assessment procedure is also unavailable where the Transfer Pricing Officer makes no variation to returned income from international transactions; the taxpayer is then not an eligible assessee under Section 144C. The draft order and consequential notices were set aside.
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