Reasoned rectification orders require consideration of expenditure disclosed in income-tax returns, preventing revision based on incomplete income com...
Modified returns after business reorganisations cannot trigger fresh scrutiny once the original assessment was complete, invalidating related transfer...
Third-party loose sheets require reliable nexus before supporting unexplained expenditure additions; presumptions do not establish payer identity or o...
TNMM comparability using audited accounts and working-capital adjustments can eliminate unwarranted transfer-pricing additions where verified margins ...
Gross-profit additions on disputed purchases require reasoned appellate determination; disclosed claims alone do not support inaccurate-particulars pe...
Limitation after transfer-pricing remand: fresh TPO reference did not extend the assessment deadline, rendering the consequential assessment time-barr...
Interim judicial restraint on tax deduction prevents default, while supporting reasonable cause and penalty deletion for foreign-leg LFC reimbursement...
Palmolein classification defeated the crude-oil concession; material misdeclaration sustained recovery and confiscation, while separate false-document...
Section 16(2)(c) of the CGST Act constitutionally requires tax charged on a supply to be actually paid to the Government before input tax credit is available; invoice possession, receipt of supply and recipient payment do not substitute for this cumulative condition. The Supreme Court affirmed that a bona fide-purchaser exception cannot be read into the provision by relying on the distinct Delhi VAT framework. Section 41 and Rule 37A require reversal where supplier tax payment conditions are unmet, while permitting re-availment after subsequent compliance. Constitutional validity does not permit mechanical denial of credit: authorities must establish the relevant statutory facts, consider transaction-specific evidence, provide a hearing and issue reasoned findings.
Section 16(2)(c) of the CGST Act constitutionally requires tax charged on a supply to be actually paid to the Government before input tax credit is available; invoice possession, receipt of supply and recipient payment do not substitute for this cumulative condition. The Supreme Court affirmed that a bona fide-purchaser exception cannot be read into the provision by relying on the distinct Delhi VAT framework. Section 41 and Rule 37A require reversal where supplier tax payment conditions are unmet, while permitting re-availment after subsequent compliance. Constitutional validity does not permit mechanical denial of credit: authorities must establish the relevant statutory facts, consider transaction-specific evidence, provide a hearing and issue reasoned findings.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4905 
