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...
Advance rulings under Section 95(a) are prospective; where all contractual acts, possession and payment were completed before filing, the transaction is not a supply "being undertaken or proposed" and therefore falls outside the AAR's permissible scope. The authority found that the assignment of leasehold rights and related charges were fully executed before the application, so questions on taxability of land development charges and eligibility of input tax credit could not be determined by advance ruling. Consequence: the application was held not maintainable and the AAR declined to decide the substantive tax issues.
Advance rulings under Section 95(a) are prospective; where all contractual acts, possession and payment were completed before filing, the transaction is not a supply "being undertaken or proposed" and therefore falls outside the AAR's permissible scope. The authority found that the assignment of leasehold rights and related charges were fully executed before the application, so questions on taxability of land development charges and eligibility of input tax credit could not be determined by advance ruling. Consequence: the application was held not maintainable and the AAR declined to decide the substantive tax issues.
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