Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
HC quashed order denying Input Tax Credit (ITC) claim under CGST Act. Following precedent in Sri Ganapathi Pandi Industries case, Court held that despite limitation under Section 16(4), petitioner entitled to claim ITC for FYs 2017-18 to 2020-21 due to retrospective amendment introducing Section 16(5) effective from 01.07.2017. Department restrained from initiating proceedings against petitioner based on limitation grounds where claims filed before 30.11.2021. Amendment's retrospective application overrides original time limitation restrictions, enabling taxpayers to avail previously time-barred ITC claims within new prescribed timeframe. Petition allowed with costs.
HC quashed order denying Input Tax Credit (ITC) claim under CGST Act. Following precedent in Sri Ganapathi Pandi Industries case, Court held that despite limitation under Section 16(4), petitioner entitled to claim ITC for FYs 2017-18 to 2020-21 due to retrospective amendment introducing Section 16(5) effective from 01.07.2017. Department restrained from initiating proceedings against petitioner based on limitation grounds where claims filed before 30.11.2021. Amendment's retrospective application overrides original time limitation restrictions, enabling taxpayers to avail previously time-barred ITC claims within new prescribed timeframe. Petition allowed with costs.
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