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 allowed the petition concerning irregularly availed Input Tax Credit (ITC), finding that Circular dated 15.10.2024 retrospectively extended the time limit for ITC under Section 16(4) of CGST Act, 2017. The Deputy Solicitor General conceded that petitioner is now entitled to the previously denied ITC based on the new notification and circular provisions. The court's ruling effectively reinstates the petitioner's right to claim input tax credit beyond the original statutory cut-off dates, providing retrospective relief for tax credit claims.
HC allowed the petition concerning irregularly availed Input Tax Credit (ITC), finding that Circular dated 15.10.2024 retrospectively extended the time limit for ITC under Section 16(4) of CGST Act, 2017. The Deputy Solicitor General conceded that petitioner is now entitled to the previously denied ITC based on the new notification and circular provisions. The court's ruling effectively reinstates the petitioner's right to claim input tax credit beyond the original statutory cut-off dates, providing retrospective relief for tax credit claims.
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