Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
The High Court set aside the assessment order denying input tax credit to the petitioner u/s 16(4) of the CGST/SGST Acts. It directed the authorities to consider the petitioner's claim for input tax credit in line with the court's previous judgment in M. Trade Links v. Union of India, which had provided directions regarding the interpretation and application of Section 16(4). The court extended the benefit of its earlier ruling in M. Trade Links to the petitioner in this case, effectively allowing the petitioner to claim input tax credit subject to the conditions and guidelines laid down in that precedent.
The High Court set aside the assessment order denying input tax credit to the petitioner u/s 16(4) of the CGST/SGST Acts. It directed the authorities to consider the petitioner's claim for input tax credit in line with the court's previous judgment in M. Trade Links v. Union of India, which had provided directions regarding the interpretation and application of Section 16(4). The court extended the benefit of its earlier ruling in M. Trade Links to the petitioner in this case, effectively allowing the petitioner to claim input tax credit subject to the conditions and guidelines laid down in that precedent.
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