Commodity derivatives position limits adopt revised breach penalties, broad commodity criteria, and client open-position limits based on deliverable s...
Effective hearing in GST adjudication requires actual opportunity to respond; ineffective service through a former auditor invalidated ex parte procee...
Third-party search material requires special assessment route, rendering general reassessment notices without jurisdiction when it forms the proceedin...
Transfer-pricing adjustments must be confined to international associated-enterprise transactions, while functionally dissimilar comparables remain ex...
Insolvency moratorium bars income-tax revision proceedings against corporate debtors until the moratorium ends, preserving merits for later determinat...
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GST exemption under Notification No. 12/2017 may apply to recovery of amounts under written-off housing loan accounts. As a statutory notification has force of law, its applicability constitutes a pure question of law capable of being raised at the appellate stage. Entry 27 covers services by way of extending loans, while entitlement to exemption for a particular recovery depends on cogent proof that it arose from a written-off housing loan in the relevant financial year. Certified banker's books are admissible as prima facie evidence, but supporting loan write-off records are required. A cross-objection is unnecessary where the respondent has received complete relief and may operate as a reply. Factual applicability remains for determination after consideration of the records.
GST exemption under Notification No. 12/2017 may apply to recovery of amounts under written-off housing loan accounts. As a statutory notification has force of law, its applicability constitutes a pure question of law capable of being raised at the appellate stage. Entry 27 covers services by way of extending loans, while entitlement to exemption for a particular recovery depends on cogent proof that it arose from a written-off housing loan in the relevant financial year. Certified banker's books are admissible as prima facie evidence, but supporting loan write-off records are required. A cross-objection is unnecessary where the respondent has received complete relief and may operate as a reply. Factual applicability remains for determination after consideration of the records.
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