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...
Challenge concerns taxability of ocean freight under the IGST reverse charge mechanism and rejection of a rectification application. The court found the Proper Officer erred in treating a Supreme Court decision as prospective where constitutional precedent requires judgments to operate retrospectively unless expressly prospective, and concluded the SC ruling that Notification 10/2017 is clarificatory (not altering the taxable person under reverse charge) governs earlier import transactions; therefore the impugned confirmation of IGST demand and the March 25, 2025 rejection of rectification could not be sustained and the rectification application was allowed.
Challenge concerns taxability of ocean freight under the IGST reverse charge mechanism and rejection of a rectification application. The court found the Proper Officer erred in treating a Supreme Court decision as prospective where constitutional precedent requires judgments to operate retrospectively unless expressly prospective, and concluded the SC ruling that Notification 10/2017 is clarificatory (not altering the taxable person under reverse charge) governs earlier import transactions; therefore the impugned confirmation of IGST demand and the March 25, 2025 rejection of rectification could not be sustained and the rectification application was allowed.
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