Donor-directed corpus contributions retain capital character despite exemption claims under section 10(23C)(vi), preventing their treatment as taxable...
Enhanced tax-audit threshold applies where banking records establish compliant non-cash receipts and payments, eliminating penalty exposure for audit ...
Transfer pricing consistency protects identical non-interest-bearing debenture terms from a later notional-interest adjustment without valid statutory...
Rectification of debatable deduction claims cannot reverse scrutiny-approved co-operative society interest income deductions as apparent record errors...
Cash-method accounting bars presumptive interest taxation, while unsupported securities and share-trading additions require reliable material and veri...
The HC held that Circular No. 163/19/2021-GST did not compel retrospective application of the explanation added to Sl. No. 234 of Notification No. 1/2017-Central Tax (Rate); any pre-01.01.2019 benefit was only optional, so the assessment was unsustainable to the extent it treated that explanation as mandatorily retrospective. It also found the authority had failed to determine the true nature of the supplies, namely whether they resulted in immovable property as works contract or constituted installation of movable goods under composite supply, and had not identified the turnover relatable to the period before 01.01.2019. The assessment was set aside and remanded for fresh consideration, leaving open the vires question.
The HC held that Circular No. 163/19/2021-GST did not compel retrospective application of the explanation added to Sl. No. 234 of Notification No. 1/2017-Central Tax (Rate); any pre-01.01.2019 benefit was only optional, so the assessment was unsustainable to the extent it treated that explanation as mandatorily retrospective. It also found the authority had failed to determine the true nature of the supplies, namely whether they resulted in immovable property as works contract or constituted installation of movable goods under composite supply, and had not identified the turnover relatable to the period before 01.01.2019. The assessment was set aside and remanded for fresh consideration, leaving open the vires question.
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