Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Customs valuation and classification require comparable evidence and assessment of imported goods in their actual condition, invalidating related pena...
Rule 86A does not permit negative blocking of input tax credit in the electronic credit ledger by restricting credits that may arise in the future. The High Court notes that, following Rawman Metal & Alloys and subsequent consistent decisions, blocking may not exceed credit available in the ledger even where wrongful or fraudulent availment from non-genuine or non-existent suppliers is alleged. Orders producing negative blocking were quashed, while preserving the respondent's ability to take further action permitted by law, including restoring blocked credit where legally permissible.
Rule 86A does not permit negative blocking of input tax credit in the electronic credit ledger by restricting credits that may arise in the future. The High Court notes that, following Rawman Metal & Alloys and subsequent consistent decisions, blocking may not exceed credit available in the ledger even where wrongful or fraudulent availment from non-genuine or non-existent suppliers is alleged. Orders producing negative blocking were quashed, while preserving the respondent's ability to take further action permitted by law, including restoring blocked credit where legally permissible.
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