Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
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...
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HC examined the petitioner's challenge to blocking of its Electronic Credit Ledger (ECL) under Rule 86A of the CGST Rules. Endorsing views of other HCs, it held that Rule 86A permits only temporary restriction on debit of legitimately available ITC where there is "reason to believe" of fraudulent or ineligible credit, without requiring prior show cause notice, as it addresses emergent situations. However, the HC ruled that "negative blocking" beyond the actual ITC balance is impermissible. Following its earlier decision, the HC set aside the impugned entries/orders to the extent they disallowed debit in excess of available ITC and allowed the writ petition.
HC examined the petitioner's challenge to blocking of its Electronic Credit Ledger (ECL) under Rule 86A of the CGST Rules. Endorsing views of other HCs, it held that Rule 86A permits only temporary restriction on debit of legitimately available ITC where there is "reason to believe" of fraudulent or ineligible credit, without requiring prior show cause notice, as it addresses emergent situations. However, the HC ruled that "negative blocking" beyond the actual ITC balance is impermissible. Following its earlier decision, the HC set aside the impugned entries/orders to the extent they disallowed debit in excess of available ITC and allowed the writ petition.
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