Unlawful outward remittances via Hawala using proforma invoices and electronic records proved; documents admitted, directors penalised, penalties redu...
Attachment of equivalent-value properties as proceeds of crime upheld; preventive attachment order and confirmation sustained; no independent ED reinv...
Section 17(5)(d) of the CGST Act denies Input Tax Credit for goods or services received for construction of an immovable property on one's own account, excluding plant and machinery; the provision's phrase "including when such goods or services or both are used in the course or furtherance of business" is interpreted to extend the block to constructions intended for lease. Applying that principle, costs of construction materials, fixtures and related services used to build a commercial property for letting are ineligible for ITC and the applicant cannot claim credit on those inputs.
Section 17(5)(d) of the CGST Act denies Input Tax Credit for goods or services received for construction of an immovable property on one's own account, excluding plant and machinery; the provision's phrase "including when such goods or services or both are used in the course or furtherance of business" is interpreted to extend the block to constructions intended for lease. Applying that principle, costs of construction materials, fixtures and related services used to build a commercial property for letting are ineligible for ITC and the applicant cannot claim credit on those inputs.
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