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...
HC determined that authorities erred in denying transitional ITC claim under CGST Act s.140(5) without providing personal hearing. While petitioner incorrectly filed Form TRAN-1 by entering service tax credit details in column 5(a) instead of 7(a) for invoices received post June 30, 2017, principles of natural justice required opportunity to demonstrate compliance with statutory requirements. Authorities must allow petitioner to prove receipt of amounts after June 30, 2017, recorded in books within 30 days. Matter remanded for fresh consideration with directions to provide personal hearing and issue reasoned order on petitioner's transitional ITC claim. Petition allowed through remand.
HC determined that authorities erred in denying transitional ITC claim under CGST Act s.140(5) without providing personal hearing. While petitioner incorrectly filed Form TRAN-1 by entering service tax credit details in column 5(a) instead of 7(a) for invoices received post June 30, 2017, principles of natural justice required opportunity to demonstrate compliance with statutory requirements. Authorities must allow petitioner to prove receipt of amounts after June 30, 2017, recorded in books within 30 days. Matter remanded for fresh consideration with directions to provide personal hearing and issue reasoned order on petitioner's transitional ITC claim. Petition allowed through remand.
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