Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
The dominant issue was whether the struck-off company's name should be restored to the Register of Companies. Restoration was held justified on the "just and equitable" standard because the company had fixed assets generating rental income, expressed willingness to file all financial records and complete statutory compliances, and the tax authority had issued a no-objection to restoration. Consequently, the order refusing restoration was set aside and the company's name was directed to be restored in the ROC records subject to completion of requisite compliances, and the appeal was allowed. - NCLAT
The dominant issue was whether the struck-off company's name should be restored to the Register of Companies. Restoration was held justified on the "just and equitable" standard because the company had fixed assets generating rental income, expressed willingness to file all financial records and complete statutory compliances, and the tax authority had issued a no-objection to restoration. Consequently, the order refusing restoration was set aside and the company's name was directed to be restored in the ROC records subject to completion of requisite compliances, and the appeal was allowed. - NCLAT
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