Revenue-neutral domestic transfer pricing and mirror transactions justified deletion of related-party adjustments for operation, maintenance and port ...
Additional input tax credit benefit under anti-profiteering rules had to be passed on to homebuyers at the time of supply, and the Tribunal accepted the DGAP's revised computation showing that the benefit was not fully transferred. It directed refund of the unpassed amount with interest at 18% per annum from the respective dates of collection until actual repayment, treating retention of the benefit as excess consideration. It also held that penalty under Section 171(3A) applies to contraventions within its operative period, since the alleged profiteering overlapped the commencement date of that provision.
Additional input tax credit benefit under anti-profiteering rules had to be passed on to homebuyers at the time of supply, and the Tribunal accepted the DGAP's revised computation showing that the benefit was not fully transferred. It directed refund of the unpassed amount with interest at 18% per annum from the respective dates of collection until actual repayment, treating retention of the benefit as excess consideration. It also held that penalty under Section 171(3A) applies to contraventions within its operative period, since the alleged profiteering overlapped the commencement date of that provision.
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