Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Failure to consider a taxpayer's reply to the pre-show cause intimation and supporting documents vitiated the subsequent DRC-01 show cause notice. The HC noted the admitted position that the objections filed against the DRC-01A notice were not examined before issuance of the notice denying input tax credit. In light of the State's statement that the materials would be considered afresh, the Court quashed the impugned notice and directed the competent authority to reconsider the objections and documents and pass a fresh speaking and reasoned order in accordance with law within the stipulated time.
Failure to consider a taxpayer's reply to the pre-show cause intimation and supporting documents vitiated the subsequent DRC-01 show cause notice. The HC noted the admitted position that the objections filed against the DRC-01A notice were not examined before issuance of the notice denying input tax credit. In light of the State's statement that the materials would be considered afresh, the Court quashed the impugned notice and directed the competent authority to reconsider the objections and documents and pass a fresh speaking and reasoned order in accordance with law within the stipulated time.
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