Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
Rectification of certain errors apparent on face of order denied in AAR ruling. AR contended AAR should have ruled on all queries. Held: No error apparent on record noticed, so no rectification required. As Customs Act provisions not attracted, differential IGST paid by applicant ineligible for ITC u/s of CGST Act, 2017. No apparent error or mistake on record as alleged by applicant, so application for advance ruling liable for rejection u/s 98(2) of CGST/TNGST Acts, 2017.
Rectification of certain errors apparent on face of order denied in AAR ruling. AR contended AAR should have ruled on all queries. Held: No error apparent on record noticed, so no rectification required. As Customs Act provisions not attracted, differential IGST paid by applicant ineligible for ITC u/s of CGST Act, 2017. No apparent error or mistake on record as alleged by applicant, so application for advance ruling liable for rejection u/s 98(2) of CGST/TNGST Acts, 2017.
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