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 upheld the constitutional validity of Rule 86A of the CGST Rules, 2017, and the related CBIC Circular, which permit blocking of Input Tax Credit (ITC) without prior hearing when there is reason to believe the credit was fraudulently availed or is ineligible. The Court recognized that immediate blocking is necessary to prevent irrecoverable loss, and the absence of pre-decisional hearing does not render the provision unconstitutional due to the availability of post-decisional hearing under Rule 86A(2). The petitioner's objection under this sub-rule must be decided expeditiously by the Commissioner, who may lift the blocking if satisfied. The Court directed the competent authority to pass a reasoned order on the lifting of ITC blocking within 15 days, thus disposing of the writ petition.
The HC upheld the constitutional validity of Rule 86A of the CGST Rules, 2017, and the related CBIC Circular, which permit blocking of Input Tax Credit (ITC) without prior hearing when there is reason to believe the credit was fraudulently availed or is ineligible. The Court recognized that immediate blocking is necessary to prevent irrecoverable loss, and the absence of pre-decisional hearing does not render the provision unconstitutional due to the availability of post-decisional hearing under Rule 86A(2). The petitioner's objection under this sub-rule must be decided expeditiously by the Commissioner, who may lift the blocking if satisfied. The Court directed the competent authority to pass a reasoned order on the lifting of ITC blocking within 15 days, thus disposing of the writ petition.
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