Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
Anti-profiteering under section 171 of the CGST Act requires a benefit arising from a GST rate reduction or additional input tax credit to be passed to recipients through a commensurate price reduction. For affordable apartments launched and booked after GST commenced, the agreed price already reflected applicable GST rates and no pre-GST CENVAT credit was available for comparison with post-GST input tax credit. Differential GST realisation from purchasers does not constitute a saving or profiteering benefit under section 171. A profiteering computation founded on alleged excess GST recovery was therefore rejected, as recovery of excess GST falls outside the Tribunal's jurisdiction; the excess amount was to be refunded in accordance with law.
Anti-profiteering under section 171 of the CGST Act requires a benefit arising from a GST rate reduction or additional input tax credit to be passed to recipients through a commensurate price reduction. For affordable apartments launched and booked after GST commenced, the agreed price already reflected applicable GST rates and no pre-GST CENVAT credit was available for comparison with post-GST input tax credit. Differential GST realisation from purchasers does not constitute a saving or profiteering benefit under section 171. A profiteering computation founded on alleged excess GST recovery was therefore rejected, as recovery of excess GST falls outside the Tribunal's jurisdiction; the excess amount was to be refunded in accordance with law.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
