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...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
The High Court dismissed the challenge to the assessment order regarding wrongful availing of input tax credit. The court found the petitioner's claim of surrendering registration under TNVAT Act and CST Act on 25.12.2014 implausible, as it was a holiday and an acknowledgment would not have been issued on that date. The court directed the respondents to verify from which IP address the transactions were made for filing returns in the petitioner's name during the disputed period, facilitating wrongful availing of input tax credit and passing it to unscrupulous dealers.
The High Court dismissed the challenge to the assessment order regarding wrongful availing of input tax credit. The court found the petitioner's claim of surrendering registration under TNVAT Act and CST Act on 25.12.2014 implausible, as it was a holiday and an acknowledgment would not have been issued on that date. The court directed the respondents to verify from which IP address the transactions were made for filing returns in the petitioner's name during the disputed period, facilitating wrongful availing of input tax credit and passing it to unscrupulous dealers.
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