Rental income valuation requires credible local comparables; family-business salary and commercially expedient unsecured-loan interest remained deduct...
Strict construction of customs exemptions denied concession for brake components, while limitation restricted differential duty to timely Bills of Ent...
Way Leave Permissions cannot be retrospectively revived through insolvency plans, and affected infrastructure holders require safety review and hearin...
Input tax credit claims for construction intended to be leased or licensed require consideration of the principle that such construction is not undertaken on the taxable person's own account. Assessment findings rejecting a leasing-based claim without applying the Supreme Court ruling in Safari Retreats required fresh consideration; the assessment and consequential DRC-07 orders were set aside without deciding ITC entitlement on merits. Recovery by debiting electronic cash or credit ledgers also required prior electronic intimation in Form GST DRC-01D and seven days to pay under Rule 142B. Non-compliant recoveries were to be re-credited or refunded after the underlying assessments were set aside.
Input tax credit claims for construction intended to be leased or licensed require consideration of the principle that such construction is not undertaken on the taxable person's own account. Assessment findings rejecting a leasing-based claim without applying the Supreme Court ruling in Safari Retreats required fresh consideration; the assessment and consequential DRC-07 orders were set aside without deciding ITC entitlement on merits. Recovery by debiting electronic cash or credit ledgers also required prior electronic intimation in Form GST DRC-01D and seven days to pay under Rule 142B. Non-compliant recoveries were to be re-credited or refunded after the underlying assessments were set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4894 
