Tag Archives: New Delhi

Allotment and buy-back of equity shares known to alleged benamidars does not constitute a benami transaction.

By | September 12, 2026
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Allotment and buy-back of equity shares known to alleged benamidars does not constitute a benami transaction. Allotment and buy-back of equity shares known to alleged benamidars does not constitute a benami transaction. Issue Whether creation of trade payables, conversion into securities premium, and allotment/buy-back of shares known to job workers fall under Section 2(9)(C) of… Read More »

Post-GST Input Cost Escalation Offsets Additional ITC Benefits, Resulting in Nil Profiteering for Developer

By | September 7, 2026
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Post-GST Input Cost Escalation Offsets Additional ITC Benefits, Resulting in Nil Profiteering for Developer Issue Whether a real estate developer contravenes Section 171 anti-profiteering provisions when additional Input Tax Credit (ITC) accrued post-GST transition is completely offset by genuine commercial input cost escalations. Facts Complaint: A homebuyer alleged that the respondent developer failed to pass… Read More »

Provisional Attachment Upheld as Fund Transfer for Alleged Gold Sale During Demonetization Constituted Benami Transaction

By | September 5, 2026
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Provisional Attachment Upheld as Fund Transfer for Alleged Gold Sale During Demonetization Constituted Benami Transaction Provisional Attachment Upheld as Fund Transfer for Alleged Gold Sale During Demonetization Constituted Benami Transaction Issue Whether the receipt of ₹25 lakhs via RTGS from a benami entity’s bank account—allegedly towards the sale of gold without proper KYC, delivery proof,… Read More »

No Anti-Profiteering Contravention as Post-GST Cost Escalation Fully Offset Additional Input Tax Credit Benefits

By | September 4, 2026
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No Anti-Profiteering Contravention as Post-GST Cost Escalation Fully Offset Additional Input Tax Credit Benefits No Anti-Profiteering Contravention as Post-GST Cost Escalation Fully Offset Additional Input Tax Credit Benefits Issue Whether respondent developer contravened anti-profiteering provisions under Section 171 of CGST Act in project ‘Vertex Panache’ by failing to pass on additional Input Tax Credit benefits… Read More »

Pre-Deposit Relatable to Dropped Tax Demand Must Be Refunded Proportionately After First Appeal Success

By | September 2, 2026
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Pre-Deposit Relatable to Dropped Tax Demand Must Be Refunded Proportionately After First Appeal Success Pre-Deposit Relatable to Dropped Tax Demand Must Be Refunded Proportionately After First Appeal Success Issue Whether an assessee is entitled to a proportionate refund of the mandatory pre-deposit made under Section 107 of the CGST/MGST Act, 2017 to the extent a… Read More »

Acquisition of RIL shares through financially incapable RPPL constitutes a benami transaction, but freezing untainted shares is invalid.

By | August 27, 2026
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Acquisition of RIL shares through financially incapable RPPL constitutes a benami transaction, but freezing untainted shares is invalid. Acquisition of RIL shares through financially incapable RPPL constitutes a benami transaction, but freezing untainted shares is invalid. Issue Whether the acquisition of 10.43 lakh shares of RIL by RPPL using funds routed from promoter-linked entities constitutes… Read More »

Real Estate Developer Must Pass On Profiteered ITC Benefit of Rs 7.31 Lakh to Homebuyers

By | August 22, 2026
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Real Estate Developer Must Pass On Profiteered ITC Benefit of Rs 7.31 Lakh to Homebuyers Issue Whether a real estate developer is obligated under Section 171 of the CGST Act, 2017 to pass on the benefit of additional Input Tax Credit (ITC) accruing after the GST rollout to homebuyers through a commensurate reduction in property… Read More »

Transfer pricing benchmarking requires strict functional, product, and asset comparability while honoring binding administrative directives.

By | August 21, 2026
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Transfer pricing benchmarking requires strict functional, product, and asset comparability while honoring binding administrative directives. Issue Whether transfer pricing adjustments, selection/exclusion of comparable entities, computation of operating margins, allocation of working capital, choice of benchmarking methods (TNMM vs. CUP vs. Berry Ratio), and disallowance of expatriate salaries can be sustained when facing functional dissimilarities, non-binding… Read More »

Developer Must Pass On Rs. 95 Lakhs Profiteered Additional ITC Benefit With Interest To Buyers

By | August 19, 2026
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Developer Must Pass On Rs. 95 Lakhs Profiteered Additional ITC Benefit With Interest To Buyers Issue Whether a developer is liable under Section 171 of the CGST Act to pass on the benefit of additional Input Tax Credit (ITC) accrued during the transition to the GST regime to flat buyers through a commensurate reduction in… Read More »

No Anti-Profiteering Holds as Post-GST Input Tax Credit Ratio Declined and No Additional Credit Accrued

By | August 15, 2026
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No Anti-Profiteering Holds as Post-GST Input Tax Credit Ratio Declined and No Additional Credit Accrued No Anti-Profiteering Holds as Post-GST Input Tax Credit Ratio Declined and No Additional Credit Accrued Issue Whether the builder-respondent indulged in profiteering under Section 171 of the CGST/MGST Act, 2017, by failing to pass on benefits of additional Input Tax… Read More »