International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Section 17(5)(d) restricts apportionment and blocking of credit solely in relation to goods or services used for construction of immovable property; it therefore does not apply to mere transfer of leasehold rights where no construction activity is shown, and such application is a non-application of mind. Section 74(1) may be invoked only where input tax credit was wrongly availed or utilised by reason of fraud, wilful misstatement or suppression; absent material establishing those elements and where inadvertent ITC use was reversed and tax discharged, a s.74(1) notice is without jurisdiction and relief ensues.
Section 17(5)(d) restricts apportionment and blocking of credit solely in relation to goods or services used for construction of immovable property; it therefore does not apply to mere transfer of leasehold rights where no construction activity is shown, and such application is a non-application of mind. Section 74(1) may be invoked only where input tax credit was wrongly availed or utilised by reason of fraud, wilful misstatement or suppression; absent material establishing those elements and where inadvertent ITC use was reversed and tax discharged, a s.74(1) notice is without jurisdiction and relief ensues.
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