Revisional power in block assessment upheld, undisclosed search income sustained, freight suppression addition restored, accrued lorry hire liability ...
Reassessment and fee-for-technical-services classification: reopening upheld, but certain reimbursements and mobilization charges fell outside treaty ...
Section 80P deduction for co-operative societies remains available despite nominal members and housing society status, with limited interest income tr...
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The High Court dismissed the petition, upholding the denial of input tax credit availed on goods purchased by the petitioner for sales promotion of manufactured goods for the respective assessment years. Section 17(5)(h) of the GST enactments prohibits input tax credit on goods disposed of by way of gift or free samples. The court held that the petitioner was not entitled to avail input tax credit on T-shirts and gold coins purchased for sales promotional activities as they constituted goods disposed of by way of gift or free samples u/s 17(5)(h).
The High Court dismissed the petition, upholding the denial of input tax credit availed on goods purchased by the petitioner for sales promotion of manufactured goods for the respective assessment years. Section 17(5)(h) of the GST enactments prohibits input tax credit on goods disposed of by way of gift or free samples. The court held that the petitioner was not entitled to avail input tax credit on T-shirts and gold coins purchased for sales promotional activities as they constituted goods disposed of by way of gift or free samples u/s 17(5)(h).
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