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...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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The High Court held that the Show Cause Notice (SCN) demanding Integrated Goods and Services Tax (IGST) on the activity of holding equity capital by the Holding Companies in the Petitioner company and on the External Commercial Borrowing (ECB) received by the Petitioner from AOSH was not properly considered. The court quashed the SCN insofar as it relates to the proposal to levy/demand GST on 'Continuous Equity Share holding' and remitted the matter back to the respondent for reconsideration after providing an opportunity to the petitioner regarding the issue of 'Value of the Credit Grant in Service determined as a service fee @1%'. The petitioner was granted liberty to submit its response on this issue within four weeks.
The High Court held that the Show Cause Notice (SCN) demanding Integrated Goods and Services Tax (IGST) on the activity of holding equity capital by the Holding Companies in the Petitioner company and on the External Commercial Borrowing (ECB) received by the Petitioner from AOSH was not properly considered. The court quashed the SCN insofar as it relates to the proposal to levy/demand GST on 'Continuous Equity Share holding' and remitted the matter back to the respondent for reconsideration after providing an opportunity to the petitioner regarding the issue of 'Value of the Credit Grant in Service determined as a service fee @1%'. The petitioner was granted liberty to submit its response on this issue within four weeks.
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