Unverified Insight Portal Information Cannot Justify Reassessment Without a Verified Taxpayer-Specific Income-Escape Nexus or Demonstrated Application...
Assessing Officer jurisdiction after statutory transfer invalidates reassessment notices issued by transferor officers and nullifies resulting proceed...
Consequential appeal-effect orders must implement rectification deleting working-capital adjustments and reconsider the resulting arm's-length range c...
Discounted cash flow valuation protects share premium where projections are reasonable, while audited book expenses defeat unexplained-expenditure add...
Section 54 construction relief survives pre-transfer commencement when completion occurs within the statutory period, excluding ineligible spouse-owne...
Input tax credit proportionate to consideration unpaid beyond 180 days must be added to output tax liability, and interest runs from availment until a financial or commercial credit note is received and recorded. A supplier's full waiver through such a credit note leaves no unpaid supply value and permits retention of original-invoice credit because the note does not reduce transaction value or invoice tax; beneficial Board clarifications bind departmental officers. Recorded unpaid balances and a bona fide view, later supported by clarification, do not establish fraud, wilful misstatement, or suppression merely because audit detected the issue. The GST demand for credit and penalty fail, while interest for the intervening period remains payable.
Input tax credit proportionate to consideration unpaid beyond 180 days must be added to output tax liability, and interest runs from availment until a financial or commercial credit note is received and recorded. A supplier's full waiver through such a credit note leaves no unpaid supply value and permits retention of original-invoice credit because the note does not reduce transaction value or invoice tax; beneficial Board clarifications bind departmental officers. Recorded unpaid balances and a bona fide view, later supported by clarification, do not establish fraud, wilful misstatement, or suppression merely because audit detected the issue. The GST demand for credit and penalty fail, while interest for the intervening period remains payable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4883 
