Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
AT, in a profiteering matter concerning the period 15.11.2017 to 30.06.2019, held that interest at 18% under Rule 133(3)(c) of the CGST Rules was not leviable since the investigation period did not substantially fall within the operative period of that provision. AT further held that no penalty was imposable as the statutory provisions enabling penalty came into force only in 2020, subsequent to the last date of the alleged profiteering. The concerned Commissioner was directed to submit a compliance report within four months, and the appeal was disposed of.
AT, in a profiteering matter concerning the period 15.11.2017 to 30.06.2019, held that interest at 18% under Rule 133(3)(c) of the CGST Rules was not leviable since the investigation period did not substantially fall within the operative period of that provision. AT further held that no penalty was imposable as the statutory provisions enabling penalty came into force only in 2020, subsequent to the last date of the alleged profiteering. The concerned Commissioner was directed to submit a compliance report within four months, and the appeal was disposed of.
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