Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
HC held that petitioner's claim for input tax credit (ITC) was valid under amended Section 16 provisions. Following precedent established in Sri Ganapathi Pandi Industries case, the court affirmed taxpayer's entitlement to avail ITC for the disputed financial periods. The reversal of ITC along with associated penalties and interest was set aside. The court's ruling reinforces the principle that ITC claims meeting statutory requirements under amended provisions cannot be denied retrospectively. Original assessment orders requiring reversal were quashed, with directions to restore the claimed ITC amounts to the petitioner's electronic credit ledger.
HC held that petitioner's claim for input tax credit (ITC) was valid under amended Section 16 provisions. Following precedent established in Sri Ganapathi Pandi Industries case, the court affirmed taxpayer's entitlement to avail ITC for the disputed financial periods. The reversal of ITC along with associated penalties and interest was set aside. The court's ruling reinforces the principle that ITC claims meeting statutory requirements under amended provisions cannot be denied retrospectively. Original assessment orders requiring reversal were quashed, with directions to restore the claimed ITC amounts to the petitioner's electronic credit ledger.
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