Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Scope of SCN - Refund claim - Unutilised Input Tax Credit (ITC) - applicability of principle of res judicata - Adherence to the Accounting Standards or not - Specific goods have not been capitalised by the Petitioner in accordance with Accounting Standard 10. - The Court found merit in the Company's contention that the tax authorities' approach lacked consistency. It emphasized the importance of uniform treatment for similar factual and legal circumstances, highlighting that the arbitrary withholding of refunds for the disputed periods was unjustified.
Scope of SCN - Refund claim - Unutilised Input Tax Credit (ITC) - applicability of principle of res judicata - Adherence to the Accounting Standards or not - Specific goods have not been capitalised by the Petitioner in accordance with Accounting Standard 10. - The Court found merit in the Company's contention that the tax authorities' approach lacked consistency. It emphasized the importance of uniform treatment for similar factual and legal circumstances, highlighting that the arbitrary withholding of refunds for the disputed periods was unjustified.
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