Transfer pricing comparables and operating income principles applied to software development services, with exclusions, inclusions, and tax credit ver...
Transfer pricing on performance guarantees and overdue receivables deleted where warranty obligations were embedded and working capital adjustment alr...
Section 16(5) was held to contain a non-obstante clause that overrides the time bar in Section 16(4) for the specified financial years, so input tax credit could not be denied solely for delay where the returns were filed before 30.11.2021. Because the impugned order rejected the claim only on the basis of Section 16(4), and the returns had been filed on 30.09.2020, the Court set aside the order-in-original and the show cause notice and remitted the matter for fresh adjudication under Section 16(5), leaving other contentions open.
Section 16(5) was held to contain a non-obstante clause that overrides the time bar in Section 16(4) for the specified financial years, so input tax credit could not be denied solely for delay where the returns were filed before 30.11.2021. Because the impugned order rejected the claim only on the basis of Section 16(4), and the returns had been filed on 30.09.2020, the Court set aside the order-in-original and the show cause notice and remitted the matter for fresh adjudication under Section 16(5), leaving other contentions open.
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