Commission expenditure linked to pharmaceutical marketing income qualifies as business deduction when recipient identity, genuineness and business pur...
Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
The court held that the denial of input tax credit to the petitioner by the respondent authority requires reconsideration. The respondent failed to consider the petitioner's contention that the payments for which input tax credit was sought were made against the provisional registration number before the permanent registration number was granted. There were no reasons provided for disallowing such credit to the petitioner. Consequently, the matter was remanded for fresh consideration by the respondent authority.
The court held that the denial of input tax credit to the petitioner by the respondent authority requires reconsideration. The respondent failed to consider the petitioner's contention that the payments for which input tax credit was sought were made against the provisional registration number before the permanent registration number was granted. There were no reasons provided for disallowing such credit to the petitioner. Consequently, the matter was remanded for fresh consideration by the respondent authority.
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