Transfer-pricing benchmarking and capital-receipt principles sustained taxpayer relief, while unsupported property-advance write-offs remained disallo...
Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
HC applied the amended Section 16(5) to hold that the Section 16(4) time restriction was overridden for invoices or debit notes relating to FY 2018-19, allowing input tax credit to be availed in a return filed up to 30 November 2021. As the challenge based on delay under Section 16(4) no longer survived, the petitioner was entitled to ITC for the relevant period. The matter was disposed of on the petitioner's acceptance of liability for the excess utilised amount and interest, and the order confirming the larger demand was set aside.
HC applied the amended Section 16(5) to hold that the Section 16(4) time restriction was overridden for invoices or debit notes relating to FY 2018-19, allowing input tax credit to be availed in a return filed up to 30 November 2021. As the challenge based on delay under Section 16(4) no longer survived, the petitioner was entitled to ITC for the relevant period. The matter was disposed of on the petitioner's acceptance of liability for the excess utilised amount and interest, and the order confirming the larger demand was set aside.
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