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Revisionary jurisdiction cannot reopen share capital assessments where adequate inquiry supports a permissible view and no independent error is establ...
Reassessment jurisdiction fails where unverified portal information is aggregated without examining the taxpayer's explanation or relevance of entries...
Statutory sanction for delayed reassessment requires approval from the prescribed authority; approval by an inferior authority invalidates jurisdictio...
Transfer pricing margin adjustments require matching treatment of non-operating income and related costs, with comparability issues reconsidered on ev...
Preliminary-expense amortisation and MAT exempt-income adjustments prevailed, while trademark costs and managerial remuneration require fresh verifica...
Export valuation requires contemporaneous evidence; unrelated invoices cannot prove overvaluation, and dual penalties on firm and partner are impermis...
The HC held that the petitioners (universities) perform statutory and regulatory functions which are not commercial activities and therefore do not constitute a "supply" in the course or furtherance of business under Section 7. Fees charged (affiliation, PG registration, admission, convocation and similar receipts) do not qualify as "consideration" and ancillary activities incidental to education are not taxable. Entry No.66 of Notification No.12/2017-CT(R) covers the universities' services, and the impugned CBIC circulars are contrary to the statutory exemption and invalid. Consequently, the impugned show cause notice dated 10.10.2023 is quashed and the petitions are allowed.
The HC held that the petitioners (universities) perform statutory and regulatory functions which are not commercial activities and therefore do not constitute a "supply" in the course or furtherance of business under Section 7. Fees charged (affiliation, PG registration, admission, convocation and similar receipts) do not qualify as "consideration" and ancillary activities incidental to education are not taxable. Entry No.66 of Notification No.12/2017-CT(R) covers the universities' services, and the impugned CBIC circulars are contrary to the statutory exemption and invalid. Consequently, the impugned show cause notice dated 10.10.2023 is quashed and the petitions are allowed.
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