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...
AAR ruled ITC unavailable for goods and services used in increasing height of Tailing Dam for mining waste disposal. The dam, classified as immovable property and civil structure stretching several kilometers on natural foundation, does not qualify as "plant and machinery" under CGST Act Section 17(5)(c) and (d). The dam, serving merely as storage for mining waste, does not directly contribute to mineral extraction or processing. Being constructed on taxpayer's own account for business operations setting, it falls within ITC restriction. The structure's passive storage function, without impact on mineral quality or quantity, prevents it from being considered essential to core business activities, thus disqualifying ITC claims.
AAR ruled ITC unavailable for goods and services used in increasing height of Tailing Dam for mining waste disposal. The dam, classified as immovable property and civil structure stretching several kilometers on natural foundation, does not qualify as "plant and machinery" under CGST Act Section 17(5)(c) and (d). The dam, serving merely as storage for mining waste, does not directly contribute to mineral extraction or processing. Being constructed on taxpayer's own account for business operations setting, it falls within ITC restriction. The structure's passive storage function, without impact on mineral quality or quantity, prevents it from being considered essential to core business activities, thus disqualifying ITC claims.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
