Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Where the taxpayer had voluntarily intimated short payment and its willingness to discharge tax much before any enforcement action, the essential preconditions of fraud, wilful misstatement, or suppression were not made out, rendering invocation of s.74 GST impermissible; consequently, denial of ITC by applying s.39(9) could not be sustained, and the proceedings were quashed. The taxpayer's earlier payment at a higher rate treating the supply as composite "to buy peace" was held not to operate as waiver or estoppel; it could still raise the composite-versus-individual supply issue before the competent authority, which must decide it on merits without relying on the prior admission. - HC
Where the taxpayer had voluntarily intimated short payment and its willingness to discharge tax much before any enforcement action, the essential preconditions of fraud, wilful misstatement, or suppression were not made out, rendering invocation of s.74 GST impermissible; consequently, denial of ITC by applying s.39(9) could not be sustained, and the proceedings were quashed. The taxpayer's earlier payment at a higher rate treating the supply as composite "to buy peace" was held not to operate as waiver or estoppel; it could still raise the composite-versus-individual supply issue before the competent authority, which must decide it on merits without relying on the prior admission. - HC
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