Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Under the unamended GST framework, an Input Service Distributor could not procure and distribute credit relating to common services liable to reverse charge through the ISD route, because the then-existing definition barred such procurement. The later Finance Act, 2024 remedy applies only from 01.04.2025, so it did not govern the disputed period. For that period, the CBIC circular of 17.07.2023 clarified that common credit need not be routed only through ISD and could also be transferred by tax invoice under Section 31. As the taxpayer had used ISD for forward charge credit and tax invoices for reverse charge common credit, and had availed only eligible credit, the contrary order was quashed.
Under the unamended GST framework, an Input Service Distributor could not procure and distribute credit relating to common services liable to reverse charge through the ISD route, because the then-existing definition barred such procurement. The later Finance Act, 2024 remedy applies only from 01.04.2025, so it did not govern the disputed period. For that period, the CBIC circular of 17.07.2023 clarified that common credit need not be routed only through ISD and could also be transferred by tax invoice under Section 31. As the taxpayer had used ISD for forward charge credit and tax invoices for reverse charge common credit, and had availed only eligible credit, the contrary order was quashed.
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