Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
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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