MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
HC dismissed the writ petition challenging tax credit demand, finding systematic fraudulent ITC availing by the petitioner. The key supplier M/s Fortune Graphics Limited was untraceable, with its director admitting no actual goods supply occurred. While declining immediate judicial intervention, the HC permitted the petitioner to pursue appellate remedies under Section 107, mandating pre-deposit by 15th July, 2025. The court noted the need for detailed factual scrutiny regarding specific entity's ITC claims, which exceeded writ jurisdiction's scope. The petition was disposed of, allowing potential appellate challenge subject to prescribed legal procedures.
HC dismissed the writ petition challenging tax credit demand, finding systematic fraudulent ITC availing by the petitioner. The key supplier M/s Fortune Graphics Limited was untraceable, with its director admitting no actual goods supply occurred. While declining immediate judicial intervention, the HC permitted the petitioner to pursue appellate remedies under Section 107, mandating pre-deposit by 15th July, 2025. The court noted the need for detailed factual scrutiny regarding specific entity's ITC claims, which exceeded writ jurisdiction's scope. The petition was disposed of, allowing potential appellate challenge subject to prescribed legal procedures.
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