Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
AAR held that proportionate refund received by the applicant upon cancellation of a pre-GST lease agreement is not taxable under GST. While property leasing constitutes supply of service, lease cancellation itself does not constitute taxable activity under CGST Act. Relying on CBIC Circular No. 178/10/2022-GST regarding coal block cancellation compensation, AAR determined that refund for unexpired lease period does not involve any supply of service as defined under Section 7 of CGST Act, 2017. The transaction merely constitutes return of consideration for unutilized period rather than agreement to perform, refrain from, or tolerate any act, thus falling outside GST liability.
AAR held that proportionate refund received by the applicant upon cancellation of a pre-GST lease agreement is not taxable under GST. While property leasing constitutes supply of service, lease cancellation itself does not constitute taxable activity under CGST Act. Relying on CBIC Circular No. 178/10/2022-GST regarding coal block cancellation compensation, AAR determined that refund for unexpired lease period does not involve any supply of service as defined under Section 7 of CGST Act, 2017. The transaction merely constitutes return of consideration for unutilized period rather than agreement to perform, refrain from, or tolerate any act, thus falling outside GST liability.
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