Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
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.
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