Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
HC determined that utilizing Input Tax Credit (ITC) available in IGST under CGST and SGST heads does not constitute improper availment warranting penalties. The electronic credit ledger functions as a wallet with separate compartments for IGST, CGST, and SGST. Despite petitioner's pending appeal, HC exercised jurisdiction under Article 226 to set aside the assessment order, finding that the method of ITC utilization was legitimate. The Court directed proper officer to reconsider the assessment, emphasizing that cross-utilization between different tax heads within the electronic credit ledger is permissible and does not attract penalties. Petition allowed with assessment order set aside for reconsideration.
HC determined that utilizing Input Tax Credit (ITC) available in IGST under CGST and SGST heads does not constitute improper availment warranting penalties. The electronic credit ledger functions as a wallet with separate compartments for IGST, CGST, and SGST. Despite petitioner's pending appeal, HC exercised jurisdiction under Article 226 to set aside the assessment order, finding that the method of ITC utilization was legitimate. The Court directed proper officer to reconsider the assessment, emphasizing that cross-utilization between different tax heads within the electronic credit ledger is permissible and does not attract penalties. Petition allowed with assessment order set aside for reconsideration.
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