Advance-ruling mechanism governs pending GST classification, exemption and taxability disputes, limiting writ review once the specialised forum functi...
Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
The case involved a dispute over CENVAT Credit denial based on a board circular alleging undervaluation of assets and claiming dual benefits. The Circular merely advised informing the income tax department about claimed expenses to avoid double benefits. It did not mandate CENVAT credit denial. The Tribunal in a similar case ruled that legitimate CENVAT credit under CENVAT Credit Rules, 2004 is unaffected by income tax treatment. Consequently, the appellant was deemed eligible for CENVAT credit, and the earlier denial was overturned, allowing the appeal.
The case involved a dispute over CENVAT Credit denial based on a board circular alleging undervaluation of assets and claiming dual benefits. The Circular merely advised informing the income tax department about claimed expenses to avoid double benefits. It did not mandate CENVAT credit denial. The Tribunal in a similar case ruled that legitimate CENVAT credit under CENVAT Credit Rules, 2004 is unaffected by income tax treatment. Consequently, the appellant was deemed eligible for CENVAT credit, and the earlier denial was overturned, allowing the appeal.
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