Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
HC quashed the seizure and ancillary orders and allowed the writ petition, holding that the interstate movement of the crane for execution of a works contract did not constitute a supply of goods or services and thus attracted no IGST. The court held Board circulars to be binding on authorities and, in absence of intent to evade tax, Section 24 principles did not permit seizure. Consequently the impugned seizure was invalid and the authorities are directed to release the goods forthwith upon production of a certified copy of the order. Costs not addressed.
HC quashed the seizure and ancillary orders and allowed the writ petition, holding that the interstate movement of the crane for execution of a works contract did not constitute a supply of goods or services and thus attracted no IGST. The court held Board circulars to be binding on authorities and, in absence of intent to evade tax, Section 24 principles did not permit seizure. Consequently the impugned seizure was invalid and the authorities are directed to release the goods forthwith upon production of a certified copy of the order. Costs not addressed.
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