Receipt of immovable property requires actual possession or enjoyment; redevelopment allotments exchanged for tenancy rights fall outside deemed incom...
Section 80P deduction covers Souharda credit societies, including qualifying surplus-deposit interest, subject to member KYC verification for cash dep...
Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
The HC allowed the petition and set aside the impugned administrative order dated 25-12-2023 and the Demand-cum-Show Cause Notice dated 05-12-2022, holding that amendments effected by the Finance (No.2) Act, 2024-given retrospective effect from 01-07-2017-have rendered proceedings against the petitioner redundant. The court applied amended Section 16 of the CGST Act, 2017 (including newly incorporated sub-sec. (5)), observing that notwithstanding sec. 16(4), a registered person may avail Input Tax Credit for invoices/debit notes pertaining to FY 2017-18 through 2020-21 by filing any return under sec. 39 up to 30 Nov 2021. Petition disposed.
The HC allowed the petition and set aside the impugned administrative order dated 25-12-2023 and the Demand-cum-Show Cause Notice dated 05-12-2022, holding that amendments effected by the Finance (No.2) Act, 2024-given retrospective effect from 01-07-2017-have rendered proceedings against the petitioner redundant. The court applied amended Section 16 of the CGST Act, 2017 (including newly incorporated sub-sec. (5)), observing that notwithstanding sec. 16(4), a registered person may avail Input Tax Credit for invoices/debit notes pertaining to FY 2017-18 through 2020-21 by filing any return under sec. 39 up to 30 Nov 2021. Petition disposed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
