Functional, asset and risk analysis excludes diversified technology companies from captive software development comparables under cost-plus arrangemen...
Mobile-phone electronic evidence failed to establish customs undervaluation, while duty survived on non-authentic origin certificates without importer...
Automotive radio classification treats integrated infotainment features as supplementary, placing complete and qualifying unassembled units under the ...
Separate corporate personality prevents directors from being personally liable for company deposits without a guarantee or independent legal undertaki...
Cross-segment derivatives manipulation: integrated order patterns can support interim restraints, while director liability requires responsibility, co...
Interest on wrongly availed and utilised input tax credit must be computed from the actual date of utilisation until the date of reversal. Section 50(3), read with rule 88B(3), does not permit interest to be calculated from an earlier date merely because the credit was wrongly availed. Where interest has been computed from an incorrect earlier date, the assessment order requires modification to apply the revised computation. Statutory appeal or revision remains available for any other disputed issue.
Interest on wrongly availed and utilised input tax credit must be computed from the actual date of utilisation until the date of reversal. Section 50(3), read with rule 88B(3), does not permit interest to be calculated from an earlier date merely because the credit was wrongly availed. Where interest has been computed from an incorrect earlier date, the assessment order requires modification to apply the revised computation. Statutory appeal or revision remains available for any other disputed issue.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4927 
