Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
The High Court addressed the issue of determining the value of supply in a job work scenario, challenging an order u/s 107 of the WBGST/CGST Act, 2017. The petitioner received goods for job work from outside the state, but faced interception and detention while returning the consignment after completion. The Court noted that if the value of supply cannot be determined u/s 15(1), it should be as prescribed. The petitioner did not disclose the contract, affecting value determination. The proper officer did not assess the transaction value under Section 15(1). The Court remanded the matter to the appellate authority for reevaluation, directing the petitioner to disclose all job work documents within 3 weeks. Petition disposed off.
The High Court addressed the issue of determining the value of supply in a job work scenario, challenging an order u/s 107 of the WBGST/CGST Act, 2017. The petitioner received goods for job work from outside the state, but faced interception and detention while returning the consignment after completion. The Court noted that if the value of supply cannot be determined u/s 15(1), it should be as prescribed. The petitioner did not disclose the contract, affecting value determination. The proper officer did not assess the transaction value under Section 15(1). The Court remanded the matter to the appellate authority for reevaluation, directing the petitioner to disclose all job work documents within 3 weeks. Petition disposed off.
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TaxTMI 
TaxTMI 
of 4881 
