Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
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The Kerala High Court addressed a case involving the denial of Input Tax Credit (ITC) and a challenge to an assessment order on the grounds of being time-barred. The court held that an order under u/s 73 must be issued within three years from the due date for annual returns, beyond which it becomes time-barred. The government, u/s 168A, can extend the time limit in special circumstances like force majeure, such as the COVID-19 pandemic. The court found the government's extension of the time limit valid and dismissed the challenge to the notifications. The court directed the Assessing Authority to pass a fresh assessment order in line with Circular No. 183/15/2022-GST, granting the petitioner the benefit of the circular. The petition was allowed through remand for further assessment.
The Kerala High Court addressed a case involving the denial of Input Tax Credit (ITC) and a challenge to an assessment order on the grounds of being time-barred. The court held that an order under u/s 73 must be issued within three years from the due date for annual returns, beyond which it becomes time-barred. The government, u/s 168A, can extend the time limit in special circumstances like force majeure, such as the COVID-19 pandemic. The court found the government's extension of the time limit valid and dismissed the challenge to the notifications. The court directed the Assessing Authority to pass a fresh assessment order in line with Circular No. 183/15/2022-GST, granting the petitioner the benefit of the circular. The petition was allowed through remand for further assessment.
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