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...
Input tax credit for construction of immovable property used in a rental business remains subject to statutory blocked-credit restrictions. Although renting is a taxable supply of services, the general business-use entitlement does not override the bar on works contract services for construction or goods and services used to construct immovable property on the taxpayer's own account. Taxable rental income alone neither meets the exception for further supply of works contract services nor establishes that a building is qualifying plant. Eligibility may depend on a fact-specific functionality analysis or proof that expenditure relates to a foundation or structural support integral to identified plant and machinery. Claims must also satisfy timing, documentary, disclosure and utilisation requirements; inadequate statutory disclosure may trigger fraud or suppression-based demand, interest and penalty exposure.
Input tax credit for construction of immovable property used in a rental business remains subject to statutory blocked-credit restrictions. Although renting is a taxable supply of services, the general business-use entitlement does not override the bar on works contract services for construction or goods and services used to construct immovable property on the taxpayer's own account. Taxable rental income alone neither meets the exception for further supply of works contract services nor establishes that a building is qualifying plant. Eligibility may depend on a fact-specific functionality analysis or proof that expenditure relates to a foundation or structural support integral to identified plant and machinery. Claims must also satisfy timing, documentary, disclosure and utilisation requirements; inadequate statutory disclosure may trigger fraud or suppression-based demand, interest and penalty exposure.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
