Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Invoice-wise comparison found a rebuttable presumption of profiteering following a GST rate reduction on specified snack products; the DGAP report quantified profiteering at Rs. 90,90,310 for 15.11.2017-31.12.2018 and that amount must be deposited equally into the Consumer Welfare Fund. Interest was not imposed because the rule authorising 18% interest became effective on 28.06.2019 and fiscal additions are not to be applied retrospectively (per SC precedent), so no interest is directed. Penalty under the penal provision was not imposed because that provision came into force on 01.01.2020 and cannot be applied retroactively.
Invoice-wise comparison found a rebuttable presumption of profiteering following a GST rate reduction on specified snack products; the DGAP report quantified profiteering at Rs. 90,90,310 for 15.11.2017-31.12.2018 and that amount must be deposited equally into the Consumer Welfare Fund. Interest was not imposed because the rule authorising 18% interest became effective on 28.06.2019 and fiscal additions are not to be applied retrospectively (per SC precedent), so no interest is directed. Penalty under the penal provision was not imposed because that provision came into force on 01.01.2020 and cannot be applied retroactively.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
