Fraud classification show-cause notices founded on inconclusive forensic audit material cannot sustain action, permitting fresh proceedings on conclus...
Appellate enhancement limits protect against new income sources, while documented credits and prior-year investments resist unexplained-income additio...
Input tax credit on expenses attributable to the fresh issue component of an initial public offering is available where the net proceeds are used in furtherance of the company's business. Services used to raise capital for expansion, capital expenditure, working capital, repayment of borrowings and other business purposes have a substantial nexus with business operations and do not fall within blocked credits. In contrast, credit is unavailable for expenses attributable to an offer for sale by existing shareholders because those proceeds accrue to the shareholders rather than the company.
Input tax credit on expenses attributable to the fresh issue component of an initial public offering is available where the net proceeds are used in furtherance of the company's business. Services used to raise capital for expansion, capital expenditure, working capital, repayment of borrowings and other business purposes have a substantial nexus with business operations and do not fall within blocked credits. In contrast, credit is unavailable for expenses attributable to an offer for sale by existing shareholders because those proceeds accrue to the shareholders rather than the company.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
