Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
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...
The High Court held that the petitioner was eligible to apply under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, for resolving legacy tax disputes. The scheme aimed to liquidate legacy cases locked in litigation and provide amnesty for those who failed to correctly discharge their tax liability. The circular issued by the Central Board of Indirect Taxes and Customs clarified that in cases where tax was paid by utilizing input tax credit (ITC) and the matter is under dispute, the tax already paid shall be adjusted by the designated committee when determining the final payable amount under the scheme. The court found that the petitioner's case fell under this category, and the revenue was bound to adjust the ITC claimed by the petitioner, leaving the balance tax payable as nil. Consequently, the High Court directed the revenue authorities to issue the discharge certificate (SVLDRS-4) within four weeks.
The High Court held that the petitioner was eligible to apply under the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, for resolving legacy tax disputes. The scheme aimed to liquidate legacy cases locked in litigation and provide amnesty for those who failed to correctly discharge their tax liability. The circular issued by the Central Board of Indirect Taxes and Customs clarified that in cases where tax was paid by utilizing input tax credit (ITC) and the matter is under dispute, the tax already paid shall be adjusted by the designated committee when determining the final payable amount under the scheme. The court found that the petitioner's case fell under this category, and the revenue was bound to adjust the ITC claimed by the petitioner, leaving the balance tax payable as nil. Consequently, the High Court directed the revenue authorities to issue the discharge certificate (SVLDRS-4) within four weeks.
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