Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
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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