Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Levy of interest and penalty - transition of amount wrongly claimed as input tax credit under the CENVAT Credit Rules, 2004 - The court confirmed that the petitioner was not entitled to the ITC on basic customs duty under the CENVAT Credit Rules and thus could not transition this credit under the CGST Act. This was deemed an error by the department, but the petitioner was still liable for the repayment of the credit received erroneously. - The court upheld the decision to set aside the penalty of Rs. 21,44,097 imposed on the petitioner, agreeing that the requirements for fraud, willful misstatement, or suppression were not met, hence the invocation of Section 74 of the CGST Act was incorrect. - The court maintained the demand for interest under Section 50 of the CGST Act, noting that while the initial tax credit was granted erroneously, the petitioner still retained the undue benefit over a period, thereby justifying the interest levy.
Levy of interest and penalty - transition of amount wrongly claimed as input tax credit under the CENVAT Credit Rules, 2004 - The court confirmed that the petitioner was not entitled to the ITC on basic customs duty under the CENVAT Credit Rules and thus could not transition this credit under the CGST Act. This was deemed an error by the department, but the petitioner was still liable for the repayment of the credit received erroneously. - The court upheld the decision to set aside the penalty of Rs. 21,44,097 imposed on the petitioner, agreeing that the requirements for fraud, willful misstatement, or suppression were not met, hence the invocation of Section 74 of the CGST Act was incorrect. - The court maintained the demand for interest under Section 50 of the CGST Act, noting that while the initial tax credit was granted erroneously, the petitioner still retained the undue benefit over a period, thereby justifying the interest levy.
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