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...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
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Before the Gauhati High Court, the issue revolved around the recovery of tax not paid or short paid, or input tax credit wrongly availed or utilized, leading to ineligible Input Tax Credit (ITC). The challenge was made against Notifications u/s 168A of the CGST Act. The court interpreted the term 'force majeure' as per the Explanation to Section 168A, encompassing events like war, epidemic, flood, drought, etc., affecting the Act's implementation. Various High Courts, including Allahabad, Gujarat, Punjab & Haryana, and Madras, had granted interim relief to the assessees, allowing proceedings but barring final orders or recovery. Given the ongoing examination of similar issues by different High Courts, the Gauhati High Court stayed the enforcement of recovery against the petitioner until further orders.
Before the Gauhati High Court, the issue revolved around the recovery of tax not paid or short paid, or input tax credit wrongly availed or utilized, leading to ineligible Input Tax Credit (ITC). The challenge was made against Notifications u/s 168A of the CGST Act. The court interpreted the term 'force majeure' as per the Explanation to Section 168A, encompassing events like war, epidemic, flood, drought, etc., affecting the Act's implementation. Various High Courts, including Allahabad, Gujarat, Punjab & Haryana, and Madras, had granted interim relief to the assessees, allowing proceedings but barring final orders or recovery. Given the ongoing examination of similar issues by different High Courts, the Gauhati High Court stayed the enforcement of recovery against the petitioner until further orders.
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