Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
Profiteering in sale of residential units and obligation to pass on input tax credit under Section 171 is examined, with area-based computation adopted and rejection of an ITC-to-turnover ratio. The investigation under Rule 129 and DGAP report quantified a profiteered amount of Rs. 40,096, requiring refund and proportionate distribution to 1,865 eligible buyers; the respondent accepted the report and agreed to comply. Interest on the profiteered amount under Rule 133(3)(b) and filing of a compliance report to DGAP and the jurisdictional GST Commissioner are directed as operative consequences.
Profiteering in sale of residential units and obligation to pass on input tax credit under Section 171 is examined, with area-based computation adopted and rejection of an ITC-to-turnover ratio. The investigation under Rule 129 and DGAP report quantified a profiteered amount of Rs. 40,096, requiring refund and proportionate distribution to 1,865 eligible buyers; the respondent accepted the report and agreed to comply. Interest on the profiteered amount under Rule 133(3)(b) and filing of a compliance report to DGAP and the jurisdictional GST Commissioner are directed as operative consequences.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
