Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
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Wrongful availment or misapplication of input tax credit by adjustment between tax heads does not, by itself, attract recovery proceedings if no tax remains unpaid or there is no revenue loss; the tribunal reasoned that proceedings for recovery require tax to be unpaid, short paid, erroneously refunded, or input tax to be wrongfully availed or utilized causing revenue loss, and that mere head-to-head adjustment without loss will not support initiation of recovery notices. The impugned recovery notice was quashed applying these principles.
Wrongful availment or misapplication of input tax credit by adjustment between tax heads does not, by itself, attract recovery proceedings if no tax remains unpaid or there is no revenue loss; the tribunal reasoned that proceedings for recovery require tax to be unpaid, short paid, erroneously refunded, or input tax to be wrongfully availed or utilized causing revenue loss, and that mere head-to-head adjustment without loss will not support initiation of recovery notices. The impugned recovery notice was quashed applying these principles.
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