Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
Exempt-income expenditure disallowance is confined to investments that actually generated exempt income, while supported business expenses remain dedu...
Objective characteristics and principal use govern mining-tyre classification, while fresh advance ruling applications may rely on additional technica...
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Corporate guarantees issued by a company to secure loans for its subsidiaries were held not to constitute a taxable supply of service where no fee, commission, security or other consideration was received or payable. The Court treated the guarantees as in-house financial support, not a regular business of providing guarantees, and quashed the summons and show cause notice founded on GST demand. By contrast, the constitutional challenge to Rule 28(2) of the GST valuation rules failed because fiscal legislation and delegated tax measures are entitled to wide legislative deference, and no clear constitutional transgression was shown. The petition was therefore partly allowed.
Corporate guarantees issued by a company to secure loans for its subsidiaries were held not to constitute a taxable supply of service where no fee, commission, security or other consideration was received or payable. The Court treated the guarantees as in-house financial support, not a regular business of providing guarantees, and quashed the summons and show cause notice founded on GST demand. By contrast, the constitutional challenge to Rule 28(2) of the GST valuation rules failed because fiscal legislation and delegated tax measures are entitled to wide legislative deference, and no clear constitutional transgression was shown. The petition was therefore partly allowed.
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