Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
Entitlement to input tax credit under the law survives despite a limitation clause: the retrospective amendment and extension of the deadline to claim ITC enable claims within the extended window, and assessment orders denying ITC solely on limitation grounds are quashed accordingly, with relief directed to refund or permit adjustment of amounts taken from taxpayers' ledgers. The revenue is restrained from recovery or account freezing based on limitation-only disallowances. The department retains the right to investigate and act where alleged fraud, wrongful or excess ITC claims, or discrepancies are shown, and may proceed against taxpayers on those substantive grounds.
Entitlement to input tax credit under the law survives despite a limitation clause: the retrospective amendment and extension of the deadline to claim ITC enable claims within the extended window, and assessment orders denying ITC solely on limitation grounds are quashed accordingly, with relief directed to refund or permit adjustment of amounts taken from taxpayers' ledgers. The revenue is restrained from recovery or account freezing based on limitation-only disallowances. The department retains the right to investigate and act where alleged fraud, wrongful or excess ITC claims, or discrepancies are shown, and may proceed against taxpayers on those substantive grounds.
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