Capital-gains exemption for charitable trusts extends to qualifying fixed deposits, while unrecoverable TDS write-offs may constitute income applicati...
India-UK treaty characterisation of telecom-service receipts as business profits withstands unilateral domestic-law amendments for Indian tax purposes...
Transfer-pricing reimbursement adjustments require uncontrolled comparables and cannot become expense-genuineness reviews, resulting in deletion of th...
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The HC quashed the attachment of the petitioner's banking account, following precedent established in Sri Ganapathi Pandi Industries (2024). The Court determined that the petitioner's claim for input tax credit, while barred under Section 16(4) of the CGST Act, 2017, was still within the limitation period prescribed by Section 16(5) of the same Act. The Court disposed of the petition on the same grounds as the precedent case, ruling that tax authorities cannot deny ITC claims that fall within the extended limitation period under Section 16(5), despite being outside the standard limitation period under Section 16(4). Petition allowed.
The HC quashed the attachment of the petitioner's banking account, following precedent established in Sri Ganapathi Pandi Industries (2024). The Court determined that the petitioner's claim for input tax credit, while barred under Section 16(4) of the CGST Act, 2017, was still within the limitation period prescribed by Section 16(5) of the same Act. The Court disposed of the petition on the same grounds as the precedent case, ruling that tax authorities cannot deny ITC claims that fall within the extended limitation period under Section 16(5), despite being outside the standard limitation period under Section 16(4). Petition allowed.
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