Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
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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