Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Reversal of ITC - wrongful availment of Input Tax Credit (ITC) on Car - The petitioner contended that despite reversing the ITC in the GSTR 3B return, the impugned order was issued on the premise that the ITC was not reversed. However, upon examination of the documents provided by the petitioner, including the GSTR 3B return, the court found that the ITC was indeed reversed as claimed. Therefore, the court quashed the impugned order and remanded the matter for reconsideration, allowing the petitioner to file a reply and submit relevant documents.
Reversal of ITC - wrongful availment of Input Tax Credit (ITC) on Car - The petitioner contended that despite reversing the ITC in the GSTR 3B return, the impugned order was issued on the premise that the ITC was not reversed. However, upon examination of the documents provided by the petitioner, including the GSTR 3B return, the court found that the ITC was indeed reversed as claimed. Therefore, the court quashed the impugned order and remanded the matter for reconsideration, allowing the petitioner to file a reply and submit relevant documents.
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