Internal CUP benchmarking for fixed-rate Masala Bonds prevails over floating external comparables, eliminating the related transfer-pricing adjustment...
Jurisdictional validity of revision notices: incorrect official capacity and mere change of opinion invalidate revision of property income assessments...
Bogus-purchase additions are limited to embedded profit where corresponding sales are accepted, while accommodation-entry information can support reas...
Input tax credit is a conditional statutory entitlement requiring cumulative compliance, including actual tax payment by the supplier. Recipient exposure to supplier default is addressed through reversal and subsequent re-availment of credit, with the claimant bearing the burden of proving eligibility. Fraud-based proceedings require prima facie material supporting allegations of fraud, wilful misstatement or suppression; detailed allegations of fake invoices, bogus supplies and no movement of goods require merits examination. Pre-notice intimation is enabling rather than mandatory, and investigation and adjudication by the proper officer do not alone establish bias. Merits disputes should ordinarily proceed through the statutory appellate remedy.
Input tax credit is a conditional statutory entitlement requiring cumulative compliance, including actual tax payment by the supplier. Recipient exposure to supplier default is addressed through reversal and subsequent re-availment of credit, with the claimant bearing the burden of proving eligibility. Fraud-based proceedings require prima facie material supporting allegations of fraud, wilful misstatement or suppression; detailed allegations of fake invoices, bogus supplies and no movement of goods require merits examination. Pre-notice intimation is enabling rather than mandatory, and investigation and adjudication by the proper officer do not alone establish bias. Merits disputes should ordinarily proceed through the statutory appellate remedy.
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