Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
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Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Where the online return-filing utility prevented a claim of set-off under s.70(2), the Court held that assessees cannot be denied a lawful claim merely because the electronic utility does not permit the prescribed computation, consistent with prior binding precedents. It directed the tax administration to modify the utility to allow the assessee to first set off STCL (STT paid) against STCG (non-STT paid) and only thereafter against STCG (STT paid). Failing timely modification, the authority was ordered to accept and process the revised return for AY 2025-26 in paper form as a valid return under s.139(5), notwithstanding the statutory e-filing mandate. - HC
Where the online return-filing utility prevented a claim of set-off under s.70(2), the Court held that assessees cannot be denied a lawful claim merely because the electronic utility does not permit the prescribed computation, consistent with prior binding precedents. It directed the tax administration to modify the utility to allow the assessee to first set off STCL (STT paid) against STCG (non-STT paid) and only thereafter against STCG (STT paid). Failing timely modification, the authority was ordered to accept and process the revised return for AY 2025-26 in paper form as a valid return under s.139(5), notwithstanding the statutory e-filing mandate. - HC
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