The Court ruled that limitation under Section 54 cannot bar refund of mistakenly paid GST. It held that excess tax collected without authority violates Article 265 and must be returned.
Learn the key technical and operational hurdles in TDS/TCS compliance, including FVU errors and defaults. The article highlights practical solutions for error-free filing.
The new tax regime shifts loan approval to verified financial data like ITR and GST. Clean records now determine eligibility instead of physical assets.
The tribunal examined whether depreciation can be claimed on concession rights under a BOT/DBFOT project. It held that the right to receive annuity/toll is an intangible asset eligible for depreciation under tax law.
The court refused to entertain a constitutional challenge raised to bypass limitation. It allowed filing of appeal with delay condonation subject to conditions.
The court declined to examine the constitutional validity of Section 16(2)(c) in absence of clear factual basis. It held that disputed facts must be examined through statutory appellate remedies.
The court addressed denial of input tax credit due to mismatch with GSTR-2A and missing invoices. It allowed the taxpayer to seek rectification with supporting documents before the proper officer.
Regulation 31A lays down strict eligibility and compliance requirements for promoter reclassification. The key takeaway is that loss of control and reduced shareholding are essential conditions.
The issue concerned operationalising a ₹10,000 crore startup fund. It was established that routing investments through AIFs ensures efficient deployment, private capital mobilisation, and improved governance.
Holding more than one DIN is treated as a continuing default under law. Even genuine mistakes attract penalties, though early correction may reduce the financial impact.
