Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
The Competition Commission of India found that the Respondent engaged in profiteering by not passing on the benefit of reduced GST rates to ticket recipients, resulting in a profiteered amount of Rs. 48,25,970. The Respondent was directed to reduce ticket prices and deposit the profiteered amount with interest. The amount was to be split between the Central and Telangana State Consumer Welfare Funds. The Respondent was given 3 months to comply, failure of which would lead to recovery by the tax authorities. While the Respondent violated Section 171(1) of the CGST Act, 2017, the penalty u/s 171(3A) could not be imposed retrospectively as it was not in effect during the violation period. Application was disposed of.
The Competition Commission of India found that the Respondent engaged in profiteering by not passing on the benefit of reduced GST rates to ticket recipients, resulting in a profiteered amount of Rs. 48,25,970. The Respondent was directed to reduce ticket prices and deposit the profiteered amount with interest. The amount was to be split between the Central and Telangana State Consumer Welfare Funds. The Respondent was given 3 months to comply, failure of which would lead to recovery by the tax authorities. While the Respondent violated Section 171(1) of the CGST Act, 2017, the penalty u/s 171(3A) could not be imposed retrospectively as it was not in effect during the violation period. Application was disposed of.
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