Business expenditure and depreciation rules allow operational outgoings while limiting disallowances for personal elements and unsupported third-party...
Compromise-and-arrangement extensions may accommodate debt assignment where creditor commercial judgment supports value maximisation and avoids proced...
Delayed-payment surcharge is not taxable tolerance consideration where it penalises default, while meter testing follows electricity distribution trea...
Sufficient cause for delayed revenue income-tax appeals requires bona fides, due diligence and a credible explanation; otherwise limitation bars appea...
Inverted-duty-structure refunds remain available for unchanged-rate apparel supplies despite trader status and require tax-period-specific computation...
Blocking an Electronic Credit Ledger may be based on reasons to believe that input tax credit was fraudulently availed or is ineligible, including where suppliers are alleged to be non-existent or their registrations cancelled. Even where such statutory conditions are prima facie met, audi alteram partem requires a post-decisional hearing. The affected taxpayer must be allowed to submit a detailed representation and supporting records to substantiate the credit claim. The competent authority must grant a personal hearing and issue a reasoned, speaking determination independently of prior observations, without merits being conclusively adjudicated at the blocking stage.
Blocking an Electronic Credit Ledger may be based on reasons to believe that input tax credit was fraudulently availed or is ineligible, including where suppliers are alleged to be non-existent or their registrations cancelled. Even where such statutory conditions are prima facie met, audi alteram partem requires a post-decisional hearing. The affected taxpayer must be allowed to submit a detailed representation and supporting records to substantiate the credit claim. The competent authority must grant a personal hearing and issue a reasoned, speaking determination independently of prior observations, without merits being conclusively adjudicated at the blocking stage.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4886 
