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...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
HC held that petitioner, an Input Service Distributor, could not be denied transition and distribution of eligible ITC merely due to GSTN portal glitches that prevented timely filing of TRAN-01 and consequent distribution within one month under Rule 39(1)(a) of the CGST Rules. Interpreting Section 140(7) CGST Act, the HC held that legitimate transitional credit, clearly reflected in TRAN-01, must be given effect notwithstanding technical or system limitations. HC directed the tax authorities to reflect Rs. 99,18,972/- in the petitioner's Electronic Credit Ledger within three months, with GSTN's cooperation if necessary, and granted the petitioner one further month thereafter to distribute such credit to its sub-offices. Petition was disposed of accordingly.
HC held that petitioner, an Input Service Distributor, could not be denied transition and distribution of eligible ITC merely due to GSTN portal glitches that prevented timely filing of TRAN-01 and consequent distribution within one month under Rule 39(1)(a) of the CGST Rules. Interpreting Section 140(7) CGST Act, the HC held that legitimate transitional credit, clearly reflected in TRAN-01, must be given effect notwithstanding technical or system limitations. HC directed the tax authorities to reflect Rs. 99,18,972/- in the petitioner's Electronic Credit Ledger within three months, with GSTN's cooperation if necessary, and granted the petitioner one further month thereafter to distribute such credit to its sub-offices. Petition was disposed of accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
