SEZ-unit profit deduction covers voluntary transfer-pricing adjustments, while exempt-income costs, foreign-exchange loss and ITeS comparables are exa...
Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
HC quashed assessment order concerning Input Tax Credit (ITC) claims under GST regime. The matter involved interpretation of limitation periods under Section 16(4) and 16(5) of CGST Act, 2017. Following precedent in similar cases, Court held that while ITC claims were barred under Section 16(4), they remained valid within the extended limitation period provided under Section 16(5). The ruling effectively preserved petitioner's right to claim ITC within the extended statutory timeframe despite exceeding initial limitation period. Writ petition allowed with directive to reassess ITC claims in accordance with Section 16(5) parameters.
HC quashed assessment order concerning Input Tax Credit (ITC) claims under GST regime. The matter involved interpretation of limitation periods under Section 16(4) and 16(5) of CGST Act, 2017. Following precedent in similar cases, Court held that while ITC claims were barred under Section 16(4), they remained valid within the extended limitation period provided under Section 16(5). The ruling effectively preserved petitioner's right to claim ITC within the extended statutory timeframe despite exceeding initial limitation period. Writ petition allowed with directive to reassess ITC claims in accordance with Section 16(5) parameters.
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TaxTMI 
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