TP Adjustment - Internal CUP for benchmarking interest on Masala Bonds - Arm's length price of intra-group technical consultancy services - Interest u/s 234C on returned income Internal CUP for benchmarking interest on Masala Bonds - Fixed-rate unsecured borrowings - Benchmarking of interest paid on fixed-rate Masala Bonds by reference to internal comparable uncontrolled transactions - HELD THAT: - Where data concerning an internal comparable uncontrolled transaction is available, it has ... ... ...

Addition towards difference in Long-Term Capital Gains by invoking section 50C - adoption of enhanced stamp valuation prevailing at registration - Stamp valuation on date of agreement for land transfer Applicability of the proviso to section 50C(1) to land transferred under a rehabilitation arrangement where the consideration was fixed and partly acted upon before registration - HELD THAT: - The proviso to section 50C(1) is intended to prevent artificial enhancement of deemed consideration wh... ... ...

Non deduction of TDS of payment of EDC charges to HUDA - demand u/s 201(1) and the levy of interest u/s 201(1A) - Deductee-paid-tax exception under first proviso to section 201(1) - Availability of relief from liability for non-deduction of tax on External Development Charges paid to HUDA, where the payee may have accounted for the receipts and paid tax thereon HELD THAT:- This issue is covered by the decision of the coordinate Bench in the case of M/s. M3M India Pvt. Ltd. [2026 (3) TMI 795 -... ... ...

Live sports broadcasting rights as royalty - Apportionment of composite media-rights consideration Live sports broadcasting rights as royalty - Copyright in live telecast - Characterisation of consideration for live telecast rights of cricket matches under a composite media-rights agreement as royalty - HELD THAT: - Live telecast of a sporting event does not involve a copyright in a work capable of being transferred for the purpose of royalty. The Revenue having failed to dislodge the finding... ... ...

Section 54F exemption for transfer of residential house - Section 54 exemption for investment in spouse's name Section 54F exemption for transfer of residential house - Availability of capital-gains exemption u/s 54F where both the original asset and the new asset are residential properties - HELD THAT: - Section 54F applies where the long-term capital asset transferred is not a residential house. Since both the asset sold and the asset acquired were residential properties, the appellant ... ... ...

Section 14A disallowance in computation of book profit - Minimum Alternate Tax u/s 115JB computation - HELD THAT: - The settled legal position as relying on GUJARAT URJA VIKAS NIGAM LTD. [2020 (3) TMI 232 - GUJARAT HIGH COURT] is that no addition to book profit can be made merely on the basis of the disallowance computed under Section 14A. [Paras 5, 6] The Tribunal's deletion of the addition from book profit was upheld; no substantial question of law arose. Final Conclusion: The Tax Ap... ... ...

Eligibility for Direct Tax Vivad Se Vishwas Scheme, 2024 in respect of disputed interest - Pending writ challenging interest and rejection of waiver application - Scope of FAQ on interest waiver applications Eligibility under the Direct Tax Vivad Se Vishwas Scheme, 2024 for disputed interest under sections 220(2) and 234B, where the waiver application had been rejected and a writ petition challenging the interest demand remained pending on the specified date - HELD THAT: - A harmonious readin... ... ...

Order fastening a company's tax liability upon its director under Section 179 - Denial of Natural justice - non-consideration of reply in director's liability proceedings HELD THAT: - The respondent did not dispute that the reply and accompanying documents furnished by the petitioner were overlooked while passing the order. An order determining a Director's liability for company tax dues without considering the response and material produced is in breach of the cardinal principles... ... ...

Validity of reassessment sanction under extended limitation - Jurisdiction to revive reassessment proceedings - Sanction by competent specified authority for reassessment HELD THAT: - Where the three-year period from the end of the relevant assessment year expired during the period covered by TOLA, the authority specified under section 151(i) could grant sanction only up to 30th June 2021. The order under section 148A(d) and consequential notice having been issued thereafter, sanction from th... ... ...

Validity of Penalty notice - vagueness - Defective show-cause notice as foundation for penalty - Validity of penalty founded on a cyclostyled show-cause notice in which irrelevant particulars were not struck off HELD THAT:- We are not inclined to interfere with the impugned order in exercise of our jurisdiction under Article 136 of the Constitution of India. The Special Leave Petition is, accordingly, dismissed and the accompanying interlocutory application(s), if any, stands disposedof.... ... ...

Limitation for reassessment notice for pre-2021 assessment year - Validity of reassessment notice issued for AY 2017-18 after expiry of the six-year period prescribed under the erstwhile reassessment regime HELD THAT:- There is an inordinate delay in filing the Special Leave Petition which has not been satisfactorily explained by the petitioner. Even otherwise, we find no good ground to interfere with the impugned order(s) passed by the High Court.... ... ...

Scope of advance ruling on applicability of notification - End-use-based GST exemption for uncoated paper - Actual use as basis of GST rate classification - Effective date of GST rate notifications Scope of advance ruling on applicability of notification - Admissibility of questions concerning the supplier's verification of end use, documentary requirements and liability for the purchaser's subsequent misuse of exempt uncoated paper - HELD THAT: - The notification did not address the ... ... ...

Classification of ruled/lined loose paper sheets - End-use-based exemption for uncoated paper used in manufacture of notebooks - Recipient's tax liability and input tax credit on uncoated paper reels - Advance ruling jurisdiction over documentary requirements for exemption Classification of ruled/lined loose paper sheets - Classification of uncoated paper reels converted into ruled or lined loose sheets - under Heading 4802 or Heading 4820 - HELD THAT: - Ruling or lining and cutting uncoa... ... ...

Bar on advance ruling where question already decided in proceedings - Admissibility of the application seeking classification and rate determination for dried and cured tobacco leaves when the same questions had been decided in enforcement proceedings concerning the applicant HELD THAT: - The first proviso to section 98(2) precludes admission where a question raised has already been pending or decided in proceedings under the GST Act in the applicant's case. On verification of the Revenue... ... ...

Pure-agent treatment of actual electricity - charge recovery - Composite supply of maintenance services and electricity Whether recovery of electricity charges by the applicant at actual cost based on consumption, as charged by the electricity distribution company without any mark up including electricity attributable to Heating Ventilation and Air conditioning (HVAC) operations and common area consumption, qualifies as reimbursement in the capacity of a pure agent and whether GST would be le... ... ...

Refund of accumulated input tax credit under inverted duty structure - Packing materials as eligible inputs - Applicability of circular concerning reduction in GST rate Refund of accumulated input tax credit under inverted duty structure - Packing materials as eligible inputs - Refund of accumulated input tax credit on packaged tea where packing materials, taxed at a higher rate, are used along with bulk tea - HELD THAT: - Section 54(3)(ii) permits refund where credit accumulates because the ... ... ...

Alternative statutory remedy under GST law - interim protection from coercive recovery pending filing of such statutory appeal Availability of interim protection from coercive recovery where the challenged GST order is appealable before the GSTAT - HELD THAT: - As the impugned order was appealable and an efficacious statutory remedy was available, the writ petition was not entertained on merits. To preserve the appellate remedy, the period during which the writ petition remained pending was d... ... ...

Demand exceeding show cause notice - Statutory limitation on adjudication under Section 75(7) of the UPGST Act Validity of an adjudication order confirming demands exceeding those proposed in the single show cause notice - HELD THAT: - Section 75(7) mandates that the demand confirmed in adjudication cannot exceed the demand proposed in the show cause notice. Since the demands confirmed on both counts exceeded the proposed demands, the adjudication order suffered from a fundamental and incurab... ... ...

Non-consideration of representation seeking GST payment - Consideration of pending representations seeking payment of GST in respect of road construction and improvement works HELD THAT: - The claim required examination of the tender conditions, individual bills and invoices, payments already made, and the applicable GST liability. The respondents' assertion that the final bills already included GST had to be supported by a proper and intelligible breakup of the amounts paid. As the repre... ... ...

Service of GST show-cause notice after cancellation of registration - Ex parte GST adjudication Electronic service after cancellation of GST registration - Opportunity of hearing in GST adjudication - Validity of an ex parte GST adjudication where the show-cause notice was issued only on the Common Portal after cancellation of the taxpayer's registration. - HELD THAT: - After cancellation of registration, the taxpayer may not be obliged to access the Common Portal and may consequently remain ... ... ...