Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The AAR ruled that goods supplied by the applicant, despite being a victim of fraud without receiving consideration, still constituted a "supply" under GST law. The authority determined that while fraud may vitiate a contract, it does not negate the statutory definition of "supply" under section 7 of the CGST Act. The facts established that goods were physically removed and received at the destination, as confirmed by the FIR. The AAR concluded that the transaction qualified as supply of goods under section 20 of the IGST Act read with sections 12 and 7 of the CGST Act, regardless of the fraudulent nature of the order.
The AAR ruled that goods supplied by the applicant, despite being a victim of fraud without receiving consideration, still constituted a "supply" under GST law. The authority determined that while fraud may vitiate a contract, it does not negate the statutory definition of "supply" under section 7 of the CGST Act. The facts established that goods were physically removed and received at the destination, as confirmed by the FIR. The AAR concluded that the transaction qualified as supply of goods under section 20 of the IGST Act read with sections 12 and 7 of the CGST Act, regardless of the fraudulent nature of the order.
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