Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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ITAT allowed the appeal regarding utilization of accumulated charitable funds under Section 11(3). The assessee accumulated funds in FY 2016-17 and utilized Rs. 2,32,073 during the additional one-year period in FY 2022-23, claiming deduction for AY 2023-24. CPC disallowed the claim citing Finance Act 2022 amendment removing the additional year provision effective 01.04.2023. ITAT held that applying the amendment retrospectively would create an impossible situation under the doctrine of impossibility (lex non cogit ad inpossibilia), as the assessee would be left with no time to utilize accumulated funds. The amendment cannot be interpreted to make fund utilization impossible within the originally provided timeframe. Legal obligations must be interpreted with practicality and reasonableness considering specific circumstances. The adjustment made during return processing was deleted.
ITAT allowed the appeal regarding utilization of accumulated charitable funds under Section 11(3). The assessee accumulated funds in FY 2016-17 and utilized Rs. 2,32,073 during the additional one-year period in FY 2022-23, claiming deduction for AY 2023-24. CPC disallowed the claim citing Finance Act 2022 amendment removing the additional year provision effective 01.04.2023. ITAT held that applying the amendment retrospectively would create an impossible situation under the doctrine of impossibility (lex non cogit ad inpossibilia), as the assessee would be left with no time to utilize accumulated funds. The amendment cannot be interpreted to make fund utilization impossible within the originally provided timeframe. Legal obligations must be interpreted with practicality and reasonableness considering specific circumstances. The adjustment made during return processing was deleted.
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