Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
The High Court quashed the order denying input tax credit and the consequential garnishee proceedings because the authority had not considered the later amendment to section 16, which extended the time-limit for availing input tax credit for specified years, or the CBIC clarification on its implementation. Following the approach adopted in earlier matters, the Court held that these subsequent legal developments had to be examined before a fresh decision could be made. The matter was remanded to the Assessing Authority for reconsideration in accordance with law, while the refund claim and all other contentions were left open.
The High Court quashed the order denying input tax credit and the consequential garnishee proceedings because the authority had not considered the later amendment to section 16, which extended the time-limit for availing input tax credit for specified years, or the CBIC clarification on its implementation. Following the approach adopted in earlier matters, the Court held that these subsequent legal developments had to be examined before a fresh decision could be made. The matter was remanded to the Assessing Authority for reconsideration in accordance with law, while the refund claim and all other contentions were left open.
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