Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
HC determined that under Rule 28's second Proviso, the value declared in invoices for services from seconded employees represents their open market value. When foreign affiliates provide services without raising invoices, per Circular No. 210/4/2024-GST, such services are deemed to have 'nil' value, which becomes the market value under CGST Rules. This interpretation applies specifically to GST levy on expenses for seconded employees from foreign entities. The court emphasized that the declared invoice value, or absence thereof resulting in nil value, establishes the definitive market value for GST purposes. Petition was allowed, confirming this interpretation of Rule 28 and its application to seconded employee arrangements.
HC determined that under Rule 28's second Proviso, the value declared in invoices for services from seconded employees represents their open market value. When foreign affiliates provide services without raising invoices, per Circular No. 210/4/2024-GST, such services are deemed to have 'nil' value, which becomes the market value under CGST Rules. This interpretation applies specifically to GST levy on expenses for seconded employees from foreign entities. The court emphasized that the declared invoice value, or absence thereof resulting in nil value, establishes the definitive market value for GST purposes. Petition was allowed, confirming this interpretation of Rule 28 and its application to seconded employee arrangements.
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