Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Rectification of GST Return filed incorrectly as B2C instead of B2B for the periods 2020-21 and 2021-22 was permitted to enable the petitioner to claim Input Tax Credit (ITC) benefit. The court held that allowing rectification would not cause any tax loss, and denying it would unnecessarily prejudice the petitioner. Relying on a Madras High Court precedent, the court directed the respondents to manually receive the corrected GSTR-1 forms from B2C to B2B for the said periods within four weeks, facilitating subsequent uploading on the web portal. The petition was disposed of accordingly.
Rectification of GST Return filed incorrectly as B2C instead of B2B for the periods 2020-21 and 2021-22 was permitted to enable the petitioner to claim Input Tax Credit (ITC) benefit. The court held that allowing rectification would not cause any tax loss, and denying it would unnecessarily prejudice the petitioner. Relying on a Madras High Court precedent, the court directed the respondents to manually receive the corrected GSTR-1 forms from B2C to B2B for the said periods within four weeks, facilitating subsequent uploading on the web portal. The petition was disposed of accordingly.
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