Writ relief against show cause notices is available where jurisdiction is absent and concluded advance rulings cannot be reopened without fresh fraud ...
Section 80P business attribution: ITAT allows deduction on investment interest and ancillary receipts, but excludes staff-loan and other non-eligible ...
Input tax credit cannot be denied solely because a supplier's registration was cancelled retrospectively; the authorities must examine whether the purchaser proved actual receipt of goods through invoices, e-way bills, lorry receipts and similar records. Because that genuineness inquiry was not undertaken and most transactions predated the cancellation order, the assessment orders were set aside and the matter remanded for fresh consideration after giving the petitioner a reasonable opportunity.
Input tax credit cannot be denied solely because a supplier's registration was cancelled retrospectively; the authorities must examine whether the purchaser proved actual receipt of goods through invoices, e-way bills, lorry receipts and similar records. Because that genuineness inquiry was not undertaken and most transactions predated the cancellation order, the assessment orders were set aside and the matter remanded for fresh consideration after giving the petitioner a reasonable opportunity.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
