Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Revision under section 263 was held unsustainable because the Assessing Officer had properly examined the relevant material, accepted the assessee's project completion method, and adopted one permissible view on the taxability of on-money from the Spring-II project. The Court reiterated that revision is available only when the assessment order is both erroneous and prejudicial to the interests of the Revenue; a mere difference of opinion cannot justify interference where enquiries were made and the view taken was plausible. No material showed that the amount was taxable in the relevant assessment year, so the appeal was dismissed and no substantial question of law arose.
Revision under section 263 was held unsustainable because the Assessing Officer had properly examined the relevant material, accepted the assessee's project completion method, and adopted one permissible view on the taxability of on-money from the Spring-II project. The Court reiterated that revision is available only when the assessment order is both erroneous and prejudicial to the interests of the Revenue; a mere difference of opinion cannot justify interference where enquiries were made and the view taken was plausible. No material showed that the amount was taxable in the relevant assessment year, so the appeal was dismissed and no substantial question of law arose.
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