Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Refund of accumulated input tax credit was allowed to the extent the services qualified as export of services, because the overseas contracting entity was treated as an independent legal person and the supplies were found to be delivered to recipients outside India. Input tax credit on royalty for licensing, patented technology and trademark rights was also upheld, as the payment was in furtherance of business and its valuation could not be reopened in refund proceedings. The Court further held that credit on business inputs and input services could not be denied as ineligible or blocked credit on the facts found. Residual issues on duty drawback, invoices, credit notes and adjusted total turnover were remitted for fresh consideration.
Refund of accumulated input tax credit was allowed to the extent the services qualified as export of services, because the overseas contracting entity was treated as an independent legal person and the supplies were found to be delivered to recipients outside India. Input tax credit on royalty for licensing, patented technology and trademark rights was also upheld, as the payment was in furtherance of business and its valuation could not be reopened in refund proceedings. The Court further held that credit on business inputs and input services could not be denied as ineligible or blocked credit on the facts found. Residual issues on duty drawback, invoices, credit notes and adjusted total turnover were remitted for fresh consideration.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
