Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
AAR held that the applicant is not entitled to claim input tax credit of GST charged on lease rental for land allotted for construction of an industrial unit, as such credit is specifically barred by section 17(5)(d) of the CGST Act. The bar applies irrespective of timing (pre-construction or post-construction), to any vacant portion of the leased land reserved for the project, and extends to amounts attributable to reconstruction, renovation, addition, alteration or repairs, since "construction" encompasses those activities. The Authority rejected attempts to limit section 17(5)(d) by reference to nexus or to section 17(5)(c), noting both clauses operate independently.
AAR held that the applicant is not entitled to claim input tax credit of GST charged on lease rental for land allotted for construction of an industrial unit, as such credit is specifically barred by section 17(5)(d) of the CGST Act. The bar applies irrespective of timing (pre-construction or post-construction), to any vacant portion of the leased land reserved for the project, and extends to amounts attributable to reconstruction, renovation, addition, alteration or repairs, since "construction" encompasses those activities. The Authority rejected attempts to limit section 17(5)(d) by reference to nexus or to section 17(5)(c), noting both clauses operate independently.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4888 
