Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
Reversal of excess input tax credit availed - bonafide mistake - The petitioner argued that the incorrect claiming of IGST instead of CGST was a bonafide mistake and should not lead to the disallowance of the input tax credit. However, the Court held that since the petitioner failed to move any application within the prescribed time limit for correcting the mistake or claiming the refund of the IGST, it could not intervene to amend the statutory provisions.
Reversal of excess input tax credit availed - bonafide mistake - The petitioner argued that the incorrect claiming of IGST instead of CGST was a bonafide mistake and should not lead to the disallowance of the input tax credit. However, the Court held that since the petitioner failed to move any application within the prescribed time limit for correcting the mistake or claiming the refund of the IGST, it could not intervene to amend the statutory provisions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
