Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
The HC dismissed the writ petitioners' challenge to the denial of input tax credit, finding that neither the assessment order nor subsequent authorities had adequately examined or verified the credit computation. The revisional authority's determination of allowable input tax credit at Rs. 36,36,100 under section 22(17) was upheld. The revisional Board's order was set aside, and the matter remanded to the AO to grant the specified credit and issue a revised assessment within eight weeks of receiving the judgment. The petition was allowed solely by way of remand to ensure the petitioners receive the input tax credit as determined by the revisional authority.
The HC dismissed the writ petitioners' challenge to the denial of input tax credit, finding that neither the assessment order nor subsequent authorities had adequately examined or verified the credit computation. The revisional authority's determination of allowable input tax credit at Rs. 36,36,100 under section 22(17) was upheld. The revisional Board's order was set aside, and the matter remanded to the AO to grant the specified credit and issue a revised assessment within eight weeks of receiving the judgment. The petition was allowed solely by way of remand to ensure the petitioners receive the input tax credit as determined by the revisional authority.
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