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 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 4891 
