Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
The HC directed the respondents to unblock the petitioner's Input Tax Credit (ITC) previously blocked under Rule 86A of the CGST Rules. The Court held that the restriction under Rule 86A(3) ceases upon the petitioner depositing 10% of the disputed tax amount and filing an appeal within the statutory period prescribed under Section 107 of the TNGST Act. Failure to file the appeal within this period would authorize the respondents to re-block the unutilized ITC. Consequently, the petition was disposed of with a mandate to unblock the ITC amounts blocked on specific dates, subject to the petitioner meeting the deposit and appeal conditions.
The HC directed the respondents to unblock the petitioner's Input Tax Credit (ITC) previously blocked under Rule 86A of the CGST Rules. The Court held that the restriction under Rule 86A(3) ceases upon the petitioner depositing 10% of the disputed tax amount and filing an appeal within the statutory period prescribed under Section 107 of the TNGST Act. Failure to file the appeal within this period would authorize the respondents to re-block the unutilized ITC. Consequently, the petition was disposed of with a mandate to unblock the ITC amounts blocked on specific dates, subject to the petitioner meeting the deposit and appeal conditions.
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