Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
Threshold exemption excludes exempt services, while stamp-paper purchases avoid reverse charge; consequential service tax penalties were also set asid...
The HC held that the petitioner is not entitled to ITC on electricity consumed for township maintenance, as such consumption is not in the course or furtherance of business under Section 16(1) of the CGST Act. ITC on exempt supply of DCS prior to 5-7-2022 was disallowed, as the sale of DCS was exempt and excluded from ITC eligibility. The amendment dated 5-7-2022, which excluded DCS from the aggregate value of exempt supplies, was held to be clarificatory in scope but not retrospective and thus does not entitle the petitioner to ITC before that date. ITC is a concession granted by statute and not a substantive right. Consequently, the appeals were dismissed, and the writ petitions were denied, affirming that the petitioner cannot claim ITC on township electricity consumption or on exempt DCS supplies before the amendment's effective date.
The HC held that the petitioner is not entitled to ITC on electricity consumed for township maintenance, as such consumption is not in the course or furtherance of business under Section 16(1) of the CGST Act. ITC on exempt supply of DCS prior to 5-7-2022 was disallowed, as the sale of DCS was exempt and excluded from ITC eligibility. The amendment dated 5-7-2022, which excluded DCS from the aggregate value of exempt supplies, was held to be clarificatory in scope but not retrospective and thus does not entitle the petitioner to ITC before that date. ITC is a concession granted by statute and not a substantive right. Consequently, the appeals were dismissed, and the writ petitions were denied, affirming that the petitioner cannot claim ITC on township electricity consumption or on exempt DCS supplies before the amendment's effective date.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
