Power to receive documentary evidence upheld; documents referred in complaint may be placed on record without amendment where omission was inadvertent...
Proof of foreign public documents requires originals or certified diplomatic/notarial copies; inspection must occur in-magna presence and cross-examin...
Prior Sanction Requirement: absence of prescribed approval invalidates reassessment notice; limitation also bars notice if escaped income below thresh...
Eligibility for exemption depends on strict construction of the product description; reapers without binder are ineligible, but confiscation and penal...
Retrospective input tax credit under section 16(5) was held to relax only the time bar in section 16(4) for specified returns and not to waive other eligibility conditions. Because the credit had already been denied for excess availment under rule 36(4) and related circulars, the later amendment did not reopen any right to reclaim the reversed credit. Re-availment of reversed input tax credit was also treated as a refund barred by section 150 of the Finance (No. 2) Act, 2024, since the provision expressly covers reversed credit and a narrower reading would produce absurd results.
Retrospective input tax credit under section 16(5) was held to relax only the time bar in section 16(4) for specified returns and not to waive other eligibility conditions. Because the credit had already been denied for excess availment under rule 36(4) and related circulars, the later amendment did not reopen any right to reclaim the reversed credit. Re-availment of reversed input tax credit was also treated as a refund barred by section 150 of the Finance (No. 2) Act, 2024, since the provision expressly covers reversed credit and a narrower reading would produce absurd results.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
