Fake-invoice penalties remain available where taxpayer admissions and records establish unsupported input tax credit claims and false GST documentatio...
Works contract classification applies to permanently installed fire-protection systems, while earthwork and obsolete IGST concessions remain unavailab...
Professional fee recovery for GST refund representation succeeds where direct engagement, fee acknowledgement, and authority are established despite c...
Transfer pricing of intra-group support services requires prescribed benchmarking; unsupported nil valuation and alternate business-expense disallowan...
Erroneous inclusion of interest on tax-free bonds as taxable income was treated as a mistake apparent from the record, rather than a fresh claim requiring a revised return. Interest specifically exempt under section 10(15)(iv)(h) could not be taxed merely because it had been mistakenly offered as taxable income in the return. The Tribunal directed that interest on IIFCL and REC tax-free bonds be treated as exempt, with consequential refund and admissible interest.
Erroneous inclusion of interest on tax-free bonds as taxable income was treated as a mistake apparent from the record, rather than a fresh claim requiring a revised return. Interest specifically exempt under section 10(15)(iv)(h) could not be taxed merely because it had been mistakenly offered as taxable income in the return. The Tribunal directed that interest on IIFCL and REC tax-free bonds be treated as exempt, with consequential refund and admissible interest.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
