Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
Integrated golf function determines classification, placing launch monitors and simulators under other golf equipment rather than measuring instrument...
A writ petition challenging denial of transitional credit under Section 140 of the CGST Act was held maintainable because the requested relief was correction of revised TRAN-1 and TRAN-2 forms, a remedy beyond the effective power of the statutory appellate authorities. The Court accepted that the revised forms were filed under a bona fide mistake, noted that the original credit claim had been substantially verified as eligible, and found that refusing correction would create double taxation with no allegation of tax evasion. It therefore quashed the assessment order and consequential demand, permitted rectification of the forms, and remitted the matter for fresh adjudication after hearing and production of supporting documents.
A writ petition challenging denial of transitional credit under Section 140 of the CGST Act was held maintainable because the requested relief was correction of revised TRAN-1 and TRAN-2 forms, a remedy beyond the effective power of the statutory appellate authorities. The Court accepted that the revised forms were filed under a bona fide mistake, noted that the original credit claim had been substantially verified as eligible, and found that refusing correction would create double taxation with no allegation of tax evasion. It therefore quashed the assessment order and consequential demand, permitted rectification of the forms, and remitted the matter for fresh adjudication after hearing and production of supporting documents.
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