Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Excess input tax credit relating to invoices for FY 2018-19 to 2020-21 was treated as validly reversed through debit entries in the electronic cash and credit ledgers reported in Form GST DRC-03. Absence of reasons in column 8 did not invalidate the reversal, as that field was not mandatory; Form GST DRC-04 acknowledged payment and the reconciliation statement supported full reversal. Section 16(5) extended the relevant ITC entitlement. For a Section 73 demand within Section 128A, interest and penalty require fresh computation after hearing, with waiver available subject to the prescribed procedure.
Excess input tax credit relating to invoices for FY 2018-19 to 2020-21 was treated as validly reversed through debit entries in the electronic cash and credit ledgers reported in Form GST DRC-03. Absence of reasons in column 8 did not invalidate the reversal, as that field was not mandatory; Form GST DRC-04 acknowledged payment and the reconciliation statement supported full reversal. Section 16(5) extended the relevant ITC entitlement. For a Section 73 demand within Section 128A, interest and penalty require fresh computation after hearing, with waiver available subject to the prescribed procedure.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
