Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Page of 4805
Press 'Enter' after typing page number.
1161 to 1180 of 96092 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
AAAR affirmed the appellate authority's determination and dismissed the departmental appeal, holding that input tax credit (ITC) on capital goods comprising wires, cables and electrical equipment used to connect the DISCOM power supply to the respondent's factory is admissible. The Authority found no legally tenable ground in the Revenue's challenge that such items are excluded as 'plant and machinery' under section 17(5) or that section 18(6) procedures were infringed; the Revenue's contention of subsequent transfer to the transmission utility was unsubstantiated. In light of Board clarifications treating analogous infrastructure items as eligible, the GAAR findings were upheld and the appeal by the Assistant Commissioner was rejected.
AAAR affirmed the appellate authority's determination and dismissed the departmental appeal, holding that input tax credit (ITC) on capital goods comprising wires, cables and electrical equipment used to connect the DISCOM power supply to the respondent's factory is admissible. The Authority found no legally tenable ground in the Revenue's challenge that such items are excluded as 'plant and machinery' under section 17(5) or that section 18(6) procedures were infringed; the Revenue's contention of subsequent transfer to the transmission utility was unsubstantiated. In light of Board clarifications treating analogous infrastructure items as eligible, the GAAR findings were upheld and the appeal by the Assistant Commissioner was rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
