Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
The AAR dismissed the applicant's advance ruling application as inadmissible and rejected it on grounds that an investigation and antecedent show-cause proceedings by the revenue investigation unit were pending on the same questions, and the applicant failed to disclose issuance of the SCN, amounting to suppression of material facts. Under the statutory scheme governing advance rulings, the Authority will not admit matters already the subject of proceedings in the applicant's case; non-disclosure demonstrated lack of candour and disentitled the applicant to relief. Consequently, the application regarding levy of output tax and entitlement to input tax credit for outward transportation services was refused.
The AAR dismissed the applicant's advance ruling application as inadmissible and rejected it on grounds that an investigation and antecedent show-cause proceedings by the revenue investigation unit were pending on the same questions, and the applicant failed to disclose issuance of the SCN, amounting to suppression of material facts. Under the statutory scheme governing advance rulings, the Authority will not admit matters already the subject of proceedings in the applicant's case; non-disclosure demonstrated lack of candour and disentitled the applicant to relief. Consequently, the application regarding levy of output tax and entitlement to input tax credit for outward transportation services was refused.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
