RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Whether deduction under Section 10B could be disallowed by way of prima facie adjustment in an intimation under Section 143(1) was examined. Since the allowability of the deduction was a debatable issue requiring scrutiny of factual and legal records, it fell outside the permissible scope of Section 143(1); the disallowance was therefore quashed and the deduction restored. Separately, the impugned rectification order was held time-barred under Sections 154(6) and 154(7), rendering it null and void; consequential refund of adjusted amounts with applicable interest was directed within eight weeks. - HC
Whether deduction under Section 10B could be disallowed by way of prima facie adjustment in an intimation under Section 143(1) was examined. Since the allowability of the deduction was a debatable issue requiring scrutiny of factual and legal records, it fell outside the permissible scope of Section 143(1); the disallowance was therefore quashed and the deduction restored. Separately, the impugned rectification order was held time-barred under Sections 154(6) and 154(7), rendering it null and void; consequential refund of adjusted amounts with applicable interest was directed within eight weeks. - HC
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