Mechanical approval under search assessment law vitiates assessments when sanction lacks application of mind; retrospective curative provision cannot ...
Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
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The HC quashed orders dated 26.03.2024 and 30.05.2024 passed by the respondent-Department that reversed/negatived petitioner's Input Tax Credit claim. The court held that while the ITC claim was barred by limitation under Section 16(4) of the CGST Act, 2017, it fell within the prescribed period under Section 16(5) of the same Act. Consequently, the respondent-Department was restrained from initiating any proceedings against the petitioners based on the impugned orders concerning the limitation issue. The petitioner successfully relied on precedent from another case to support their position. The writ petition was allowed in favor of the petitioner.
The HC quashed orders dated 26.03.2024 and 30.05.2024 passed by the respondent-Department that reversed/negatived petitioner's Input Tax Credit claim. The court held that while the ITC claim was barred by limitation under Section 16(4) of the CGST Act, 2017, it fell within the prescribed period under Section 16(5) of the same Act. Consequently, the respondent-Department was restrained from initiating any proceedings against the petitioners based on the impugned orders concerning the limitation issue. The petitioner successfully relied on precedent from another case to support their position. The writ petition was allowed in favor of the petitioner.
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