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...
The Rajasthan High Court addressed the issue of refunding unutilized Input Tax Credit (ITC) used for zero-rated supply of goods. The petitioner sought refund under the "Any Other" category on the GST portal for Dec. 2018. Upon realizing an arithmetical error in previous refund applications, supplementary applications were submitted. Citing a Gujarat High Court decision, the High Court held that substantive entitlement cannot be denied due to technical errors. The petition was disposed of, allowing manual submission of refund applications for the remaining amount. The respondent authorities were directed to scrutinize the claims in accordance with the law.
The Rajasthan High Court addressed the issue of refunding unutilized Input Tax Credit (ITC) used for zero-rated supply of goods. The petitioner sought refund under the "Any Other" category on the GST portal for Dec. 2018. Upon realizing an arithmetical error in previous refund applications, supplementary applications were submitted. Citing a Gujarat High Court decision, the High Court held that substantive entitlement cannot be denied due to technical errors. The petition was disposed of, allowing manual submission of refund applications for the remaining amount. The respondent authorities were directed to scrutinize the claims in accordance with the law.
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