Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Availment of ITC of differential IGST paid post on-site audit by Customs authorities - To be treated as voluntary paid or not - The AAR ruled that the differential IGST paid by the applicant does not qualify for ITC under Section 17(5) of the CGST/TNGST Act, 2017. The authority found that the case involved willful misstatement by the applicant to evade tax, discovered during an audit. It was determined that since the differential IGST paid was in connection with an audit finding of willful misstatement or suppression of facts, it fell under the restrictions of Section 17(5), which denies ITC in cases where tax has been paid in accordance with the provisions of sections 74, 129, and 130.
Availment of ITC of differential IGST paid post on-site audit by Customs authorities - To be treated as voluntary paid or not - The AAR ruled that the differential IGST paid by the applicant does not qualify for ITC under Section 17(5) of the CGST/TNGST Act, 2017. The authority found that the case involved willful misstatement by the applicant to evade tax, discovered during an audit. It was determined that since the differential IGST paid was in connection with an audit finding of willful misstatement or suppression of facts, it fell under the restrictions of Section 17(5), which denies ITC in cases where tax has been paid in accordance with the provisions of sections 74, 129, and 130.
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