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 GST audit completion timeframe was compliant with Section 65 of CGST Act. Petitioner challenged SCNs under Sections 73 and 74, claiming audit exceeded statutory timeline. Court found additional documents were submitted by petitioner on 09.04.2024, which marked commencement of audit per Section 65 Explanation. Three-month completion requirement ran from this date, not initial notice. Final audit report was filed within prescribed period. While question of whether timeline is mandatory or directory remained open, Court dismissed petition finding audit was timely completed based on actual document submission date. Writ petition dismissed with no merit.
HC determined GST audit completion timeframe was compliant with Section 65 of CGST Act. Petitioner challenged SCNs under Sections 73 and 74, claiming audit exceeded statutory timeline. Court found additional documents were submitted by petitioner on 09.04.2024, which marked commencement of audit per Section 65 Explanation. Three-month completion requirement ran from this date, not initial notice. Final audit report was filed within prescribed period. While question of whether timeline is mandatory or directory remained open, Court dismissed petition finding audit was timely completed based on actual document submission date. Writ petition dismissed with no merit.
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