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...
Rule 117(4)(b)(iii) of the CGST Rules was challenged as ultra vires Section 140(3) of the CGST Act and violative of Article 14 of the Constitution. The court held that the petitioner has the right to avail transitional credit legally due, and the authorities should permit rectification of TRAN-1/TRAN-2 by making necessary software changes. The respondents were directed to allow the petitioner to file rectified TRAN-1 with correct details and TRAN-2 within eight weeks to avail transitional credit. The impugned show-cause notice was quashed, and the petition was allowed.
Rule 117(4)(b)(iii) of the CGST Rules was challenged as ultra vires Section 140(3) of the CGST Act and violative of Article 14 of the Constitution. The court held that the petitioner has the right to avail transitional credit legally due, and the authorities should permit rectification of TRAN-1/TRAN-2 by making necessary software changes. The respondents were directed to allow the petitioner to file rectified TRAN-1 with correct details and TRAN-2 within eight weeks to avail transitional credit. The impugned show-cause notice was quashed, and the petition was allowed.
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