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...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
The High Court held that the issue of 'negative blocking' of Electronic Credit Ledger (ECL) as per the Central Goods and Services Tax Act, 2017 and Rules is no longer an open issue and stands concluded by its previous decision. The Court allowed the petition and set aside the orders disallowing debit from the ECL in excess of the available Input Tax Credit at the time of passing the impugned orders, terming it as 'negative blocking'. The action of the respondents in negatively blocking the ECL cannot be sustained.
The High Court held that the issue of 'negative blocking' of Electronic Credit Ledger (ECL) as per the Central Goods and Services Tax Act, 2017 and Rules is no longer an open issue and stands concluded by its previous decision. The Court allowed the petition and set aside the orders disallowing debit from the ECL in excess of the available Input Tax Credit at the time of passing the impugned orders, terming it as 'negative blocking'. The action of the respondents in negatively blocking the ECL cannot be sustained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
