Inaccurate-particulars penalties fail where transfer-pricing documentation shows good faith and due diligence, and underlying capital-gains additions ...
Transfer-pricing tolerance for software sub-licensing falls within the services range, eliminating the adjustment and requiring TDS-credit verificatio...
Customs Broker due diligence requires prescribed KYC, not detecting misdeclarations discoverable only through physical examination, defeating licence ...
E-filing system failure permits exclusion of affected time in insolvency appeals, preventing tribunal technology defects from defeating timely filings...
Retrospectively inserted section 16(5) extends the time for eligible registered persons to claim input tax credit for specified financial years where the section 39 return was filed by 30 November 2021. It overrides the limitation in section 16(4) for claims falling within that extended period, while preserving the requirement to satisfy all other statutory conditions. Input tax credit claimed through a March 2019 return filed within the extended deadline cannot be denied solely for delay. Limitation-based disallowance, consequential recovery, and related demands are to be removed, with recovered amounts refunded or adjusted against future tax.
Retrospectively inserted section 16(5) extends the time for eligible registered persons to claim input tax credit for specified financial years where the section 39 return was filed by 30 November 2021. It overrides the limitation in section 16(4) for claims falling within that extended period, while preserving the requirement to satisfy all other statutory conditions. Input tax credit claimed through a March 2019 return filed within the extended deadline cannot be denied solely for delay. Limitation-based disallowance, consequential recovery, and related demands are to be removed, with recovered amounts refunded or adjusted against future tax.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
