Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
HC upheld the validity of Rule 36(4) in CGST and TNGST Rules, which restricts Input Tax Credit (ITC) availment when suppliers fail to upload invoices under Section 37(1). The court determined that the rule was a temporary regulatory measure to protect government interests and taxpayers from potential recovery proceedings. The restrictions were deemed constitutionally valid and not violative of Article 14, with the amendment designed to ensure partial ITC availability while maintaining compliance mechanisms. The court emphasized that the rule's implementation was a proportionate response to systemic challenges in tax credit documentation, effectively rejecting the constitutional challenge to the regulatory provision.
HC upheld the validity of Rule 36(4) in CGST and TNGST Rules, which restricts Input Tax Credit (ITC) availment when suppliers fail to upload invoices under Section 37(1). The court determined that the rule was a temporary regulatory measure to protect government interests and taxpayers from potential recovery proceedings. The restrictions were deemed constitutionally valid and not violative of Article 14, with the amendment designed to ensure partial ITC availability while maintaining compliance mechanisms. The court emphasized that the rule's implementation was a proportionate response to systemic challenges in tax credit documentation, effectively rejecting the constitutional challenge to the regulatory provision.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
