Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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Section 16(2)(c) of the CGST/KGST Act and Rule 36(4) of the CGST/KGST Rules were read down, not struck down, so that input tax credit is not denied to a bona fide recipient who has satisfied the other statutory conditions merely because the supplier failed to remit tax to the Government. The High Court accepted that a purchaser cannot be required to ensure the supplier's tax payment, as that would impose an impossible burden and penalise the recipient for another's default. The provisions were therefore confined to non-bona fide, collusive or fraudulent transactions, and ITC remains available to genuine recipients affected only by supplier default.
Section 16(2)(c) of the CGST/KGST Act and Rule 36(4) of the CGST/KGST Rules were read down, not struck down, so that input tax credit is not denied to a bona fide recipient who has satisfied the other statutory conditions merely because the supplier failed to remit tax to the Government. The High Court accepted that a purchaser cannot be required to ensure the supplier's tax payment, as that would impose an impossible burden and penalise the recipient for another's default. The provisions were therefore confined to non-bona fide, collusive or fraudulent transactions, and ITC remains available to genuine recipients affected only by supplier default.
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