Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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HC held that continued blocking of petitioner's ITC in the Electronic Credit Ledger beyond one year under Rule 86A of the 2017 Rules is ultra vires and unsustainable. Relying on the SC's interpretation of provisional attachment as a protective, pre-emptive measure and not a mode of recovery, the HC held that the statutory one-year period is sufficient for investigation and cannot be indirectly extended absent fresh material or changed circumstances. As no further proceedings or new grounds were shown by the revenue, the renewed blocking of ITC after 21.11.2024 was quashed. The impugned action was set aside and the writ petition allowed.
HC held that continued blocking of petitioner's ITC in the Electronic Credit Ledger beyond one year under Rule 86A of the 2017 Rules is ultra vires and unsustainable. Relying on the SC's interpretation of provisional attachment as a protective, pre-emptive measure and not a mode of recovery, the HC held that the statutory one-year period is sufficient for investigation and cannot be indirectly extended absent fresh material or changed circumstances. As no further proceedings or new grounds were shown by the revenue, the renewed blocking of ITC after 21.11.2024 was quashed. The impugned action was set aside and the writ petition allowed.
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