Belated Form 10B filing during Covid-19 cannot defeat charitable exemption where genuine hardship warrants condonation and substantial justice prevail...
Limitation for consequential assessments runs from prescribed authority receipt, while verified purchases cannot be disallowed merely for unanswered s...
Higher depreciation for qualifying commercial vehicles, exempt-income disallowance, research deduction verification, and club-expense treatment clarif...
Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
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Rule 86A permits only a temporary restriction on debiting input tax credit that is available in the electronic credit ledger when the rule is invoked and its conditions are met. Availability of credit is a condition precedent; the provision does not authorise authorities to create debit entries or impose a negative ledger balance. Blocking was therefore invalid to the extent it exceeded the credit then available. Wrongly availed or utilised credit must instead be recovered through the statutory remedies available under law.
Rule 86A permits only a temporary restriction on debiting input tax credit that is available in the electronic credit ledger when the rule is invoked and its conditions are met. Availability of credit is a condition precedent; the provision does not authorise authorities to create debit entries or impose a negative ledger balance. Blocking was therefore invalid to the extent it exceeded the credit then available. Wrongly availed or utilised credit must instead be recovered through the statutory remedies available under law.
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