Business upkeep expenses despite no revenue, director's interest-free advances, and property gift additions-disallowances and notional interest delete...
Insolvency resolution plan's loan assignment between approving and dissenting creditors: post-approval redistribution blocked; original distribution e...
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Availment of input tax credit based on invoices issued by non-existing dealers is unsustainable where the taxpayer failed to respond to antecedent show cause notices, with resulting assessments under the relevant provisions remaining operative and rectification applications rejected. Statements of e-way bills alone are inadequate to prove physical receipt of goods; documentary proof such as delivery challans and receipts is required, and reliance solely on e-way bill summaries will not substantiate input tax credit claims. Writ remedies are not maintainable where statutory remedy and proceedings under the assessment scheme are available.
Availment of input tax credit based on invoices issued by non-existing dealers is unsustainable where the taxpayer failed to respond to antecedent show cause notices, with resulting assessments under the relevant provisions remaining operative and rectification applications rejected. Statements of e-way bills alone are inadequate to prove physical receipt of goods; documentary proof such as delivery challans and receipts is required, and reliance solely on e-way bill summaries will not substantiate input tax credit claims. Writ remedies are not maintainable where statutory remedy and proceedings under the assessment scheme are available.
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