Clubbing of income from gifted property failed where the claim surfaced after reassessment limitation, sustaining capital-gains assessment in spouse's...
Employee stock-option discount qualifies as revenue expenditure, while royalty and service comparables require reliable functional and transactional b...
Special insurance income computation preserves statutory deductions while limiting transfer-pricing, withholding and disallowance adjustments for gene...
Unconditional omission of Rule 96(10) of the CGST/WBGST Rules, 2017, without a saving clause, rendered the rule nonexistent for proceedings founded solely on it. Applying Supreme Court law on the effect of such omission, the High Court found that the impugned proceedings had no independent statutory basis. The show-cause notice and consequential orders concerning July 2017 to March 2021 were therefore quashed, and the writ petition was disposed of.
Unconditional omission of Rule 96(10) of the CGST/WBGST Rules, 2017, without a saving clause, rendered the rule nonexistent for proceedings founded solely on it. Applying Supreme Court law on the effect of such omission, the High Court found that the impugned proceedings had no independent statutory basis. The show-cause notice and consequential orders concerning July 2017 to March 2021 were therefore quashed, and the writ petition was disposed of.
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TaxTMI 
TaxTMI 
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