Compulsorily convertible debentures remain debt before conversion, preventing transfer-pricing and interest-deduction disallowances on the stated fact...
Stock-in-trade transfer taxability follows possession and consideration, not later conveyance registration, limiting deemed-value provisions to the ac...
Alternative statutory remedy under GST bars writ challenge where classification, notice variance, and hearing disputes require factual appellate revie...
Denial of refund claimed u/s 142(3) of CGST Act for service tax paid under RCM was incorrect. Rule 9(1)(e) of CENVAT Credit Rules, 2004 applies, not Rule 9(1)(bb), allowing credit. Imposition of equal penalty u/s 78 of Finance Act, 1994 was improper as no suppression of facts or intention to evade tax was proved. Appellant was eligible for refund u/s 142(3) of CGST Act, 2017 for CENVAT credit paid after GST implementation, though unable to avail TRAN-1 credit due to time lapse. Impugned order rejecting refund claims is set aside, and appeal allowed.
Denial of refund claimed u/s 142(3) of CGST Act for service tax paid under RCM was incorrect. Rule 9(1)(e) of CENVAT Credit Rules, 2004 applies, not Rule 9(1)(bb), allowing credit. Imposition of equal penalty u/s 78 of Finance Act, 1994 was improper as no suppression of facts or intention to evade tax was proved. Appellant was eligible for refund u/s 142(3) of CGST Act, 2017 for CENVAT credit paid after GST implementation, though unable to avail TRAN-1 credit due to time lapse. Impugned order rejecting refund claims is set aside, and appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
