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...
Section 7 admission requires established financial debt and default, not precise interest quantification, while post-suspension defaults remain action...
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Payment of damages under an arbitral award did not amount to a taxable supply under the CGST Act because the settlement before the Delhi High Court was not an independent commercial arrangement to refrain from an act or tolerate a situation. The withdrawal or suspension of enforcement proceedings in the UK and US followed only from full satisfaction of the award and did not create separate consideration or a distinct service. In the absence of an independent contract and consideration, Section 7 and Entry 5(e) of Schedule II were inapplicable, and the IGST charge could not be sustained. The intimation and show cause notice were quashed for lack of jurisdiction, and the writ petition was entertained despite the alternate remedy rule.
Payment of damages under an arbitral award did not amount to a taxable supply under the CGST Act because the settlement before the Delhi High Court was not an independent commercial arrangement to refrain from an act or tolerate a situation. The withdrawal or suspension of enforcement proceedings in the UK and US followed only from full satisfaction of the award and did not create separate consideration or a distinct service. In the absence of an independent contract and consideration, Section 7 and Entry 5(e) of Schedule II were inapplicable, and the IGST charge could not be sustained. The intimation and show cause notice were quashed for lack of jurisdiction, and the writ petition was entertained despite the alternate remedy rule.
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