Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
