Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The summary focuses on the availability of Input Tax Credit (ITC) for demo vehicles used by authorized dealers. The Haryana Government issued a circular clarifying that ITC is available for demo vehicles, which are motor vehicles for passenger transportation with a seating capacity of up to 13 persons, as per Section 17(5) of the Haryana Goods and Services Tax Act, 2017. The circular addresses the availability of ITC for demo vehicles, even in cases where such vehicles are capitalized in the books of account by authorized dealers. The High Court set aside the earlier observation denying ITC for vehicles initially used as demo vehicles, entitling the petitioner to the benefit of ITC in light of the clarification provided by the circulars.
The summary focuses on the availability of Input Tax Credit (ITC) for demo vehicles used by authorized dealers. The Haryana Government issued a circular clarifying that ITC is available for demo vehicles, which are motor vehicles for passenger transportation with a seating capacity of up to 13 persons, as per Section 17(5) of the Haryana Goods and Services Tax Act, 2017. The circular addresses the availability of ITC for demo vehicles, even in cases where such vehicles are capitalized in the books of account by authorized dealers. The High Court set aside the earlier observation denying ITC for vehicles initially used as demo vehicles, entitling the petitioner to the benefit of ITC in light of the clarification provided by the circulars.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
