Transfer pricing comparability requires functional alignment, reliable financial data, and careful review of working capital and receivables adjustmen...
Transfer pricing rules require benchmarking corporate guarantees and associated-enterprise advances, while invalid domestic-transaction adjustments ca...
Prospective sugar export prohibition required registered letters of credit; private contracts and export quotas created no enforceable continuation ri...
Retroactive interim-moratorium exclusion permits protective asset disclosure and preservation measures against personal guarantors pending arbitration...
The HC held that the powers under Rule 86A of the CGST Rules may be exercised only in respect of input tax credit reflected in the Electronic Credit Ledger on the date of making and serving the impugned blocking order. Applying precedent, the court quashed and set aside the impugned order insofar as it exceeded that scope and directed the Respondents to restore to the Petitioner the blocked input tax credit equivalent to amounts recovered by the Respondents for June, July and August 2025 that are not otherwise set aside. The directive mandates restoration of ledger credit while preserving any recoveries that remain valid.
The HC held that the powers under Rule 86A of the CGST Rules may be exercised only in respect of input tax credit reflected in the Electronic Credit Ledger on the date of making and serving the impugned blocking order. Applying precedent, the court quashed and set aside the impugned order insofar as it exceeded that scope and directed the Respondents to restore to the Petitioner the blocked input tax credit equivalent to amounts recovered by the Respondents for June, July and August 2025 that are not otherwise set aside. The directive mandates restoration of ledger credit while preserving any recoveries that remain valid.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
