Social forestry expenditure requires activity-based classification, limiting book-profit adjustments and preserving penalty relief where normal additi...
Inaccurate-particulars penalties fail where transfer-pricing documentation shows good faith and due diligence, and underlying capital-gains additions ...
Input tax credit claimed on invoices from a supplier whose registration was retrospectively cancelled requires examination of the facts and evidence for each underlying transaction. Retrospective cancellation alone does not establish credit ineligibility unless specific material shows that invoices were fictitious or sham, or that supplies were not received. Differences between figures in GST returns, standing alone, likewise do not establish an erroneous credit claim. A demand cannot be sustained on a ground materially different from the basis of the original proceedings. Subsequent amendments in GST records may be relevant to determining limited credit eligibility.
Input tax credit claimed on invoices from a supplier whose registration was retrospectively cancelled requires examination of the facts and evidence for each underlying transaction. Retrospective cancellation alone does not establish credit ineligibility unless specific material shows that invoices were fictitious or sham, or that supplies were not received. Differences between figures in GST returns, standing alone, likewise do not establish an erroneous credit claim. A demand cannot be sustained on a ground materially different from the basis of the original proceedings. Subsequent amendments in GST records may be relevant to determining limited credit eligibility.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4883 
