Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
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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