Personal hearing requirements in GST adjudication were satisfied by prior opportunities and written submissions; appellate limitation received writ-pe...
Interactive flat panels meeting automatic data processing conditions are distinguished from monitors, while later classification clarifications apply ...
Scope of Explanation C of Section 43B - Actual payment of interest or not - Issuance of debenture in lieu of Interest - since Explanation 3C was added in 2006 with the object of plugging a loophole – i.e. misusing Section 43B by not actually paying interest but converting interest into a fresh loan, bona fide transactions of actual payments are not meant to be affected - In the present case, it is clear that interest was “actually paid” by means of issuance of debentures, which extinguished the liability to pay interest. - Deduction allowed - SC
Scope of Explanation C of Section 43B - Actual payment of interest or not - Issuance of debenture in lieu of Interest - since Explanation 3C was added in 2006 with the object of plugging a loophole – i.e. misusing Section 43B by not actually paying interest but converting interest into a fresh loan, bona fide transactions of actual payments are not meant to be affected - In the present case, it is clear that interest was “actually paid” by means of issuance of debentures, which extinguished the liability to pay interest. - Deduction allowed - SC
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