Writ relief against show cause notices is available where jurisdiction is absent and concluded advance rulings cannot be reopened without fresh fraud ...
Section 80P business attribution: ITAT allows deduction on investment interest and ancillary receipts, but excludes staff-loan and other non-eligible ...
Section 17(5)(d) restricts apportionment and blocking of credit solely in relation to goods or services used for construction of immovable property; it therefore does not apply to mere transfer of leasehold rights where no construction activity is shown, and such application is a non-application of mind. Section 74(1) may be invoked only where input tax credit was wrongly availed or utilised by reason of fraud, wilful misstatement or suppression; absent material establishing those elements and where inadvertent ITC use was reversed and tax discharged, a s.74(1) notice is without jurisdiction and relief ensues.
Section 17(5)(d) restricts apportionment and blocking of credit solely in relation to goods or services used for construction of immovable property; it therefore does not apply to mere transfer of leasehold rights where no construction activity is shown, and such application is a non-application of mind. Section 74(1) may be invoked only where input tax credit was wrongly availed or utilised by reason of fraud, wilful misstatement or suppression; absent material establishing those elements and where inadvertent ITC use was reversed and tax discharged, a s.74(1) notice is without jurisdiction and relief ensues.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
