Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
Whether exemption could be allowed where the taxpayer mistakenly claimed deduction under an inapplicable provision and the CPC denied it in intimation u/s 143(1) was the dominant issue. Since the taxpayer already held approval u/s 10(23C)(iv) for the relevant period, the wrong claim u/s 10(46) was treated as an inadvertent error not defeating a legitimate statutory exemption; reliance was placed on precedent that bona fide omission/mistake in claiming exemption should not bar revision/correction when entitlement exists in law. Accordingly, the appellate authority's grant of exemption u/s 10(23C)(iv) was upheld and the revenue's appeal was dismissed. - ITAT
Whether exemption could be allowed where the taxpayer mistakenly claimed deduction under an inapplicable provision and the CPC denied it in intimation u/s 143(1) was the dominant issue. Since the taxpayer already held approval u/s 10(23C)(iv) for the relevant period, the wrong claim u/s 10(46) was treated as an inadvertent error not defeating a legitimate statutory exemption; reliance was placed on precedent that bona fide omission/mistake in claiming exemption should not bar revision/correction when entitlement exists in law. Accordingly, the appellate authority's grant of exemption u/s 10(23C)(iv) was upheld and the revenue's appeal was dismissed. - ITAT
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