Gujarat AAR held that Input Tax Credit cannot be claimed on GST paid for long-term industrial land leases used for factory construction, citing Section 17(5)(d) of CGST Act. The ruling confirms that such credits remain blocked even before or after construction.
Dismissing borrower’s petition, High Court held that a 15-day gap between publication and auction meets statutory requirement for a subsequent sale and that auction notice contained sufficient property description and valid valuation.
CESTAT ruled that undervaluation suspicion in one Bill cannot justify rejecting values in other consignments. It upheld revaluation for one import but annulled demands, confiscation, and penalties for 44 past Bills.
Madras High Court permitted Tvl. Red Rose Garments to debit 50% of its four-month tax dues from a negatively blocked ITC ledger, pending final proceedings.
ITAT Mumbai set aside CIT(A)’s order for lack of compliance with Rule 46A in a case involving alleged bogus penny stock transactions under Aarya Global Shares.
Madras High Court remitted a case for fresh adjudication after finding that fake invoices were generated in the petitioner’s GSTR-1 by an auditor to aid wrongful ITC claims.
Gujarat High Court quashed CBDT’s rejection and condoned delay in Sysco Industries’ income tax return filing, holding that insolvency and fire caused genuine hardship.
Allahabad HC set aside lease cancellation order and directed Greater Noida Authority to restore plot, holding restoration vital for completing homebuyers’ project under IBC.
NCLAT set aside NCLT Kolkata’s order and held that ICICI Bank’s overdraft facility backed by fixed deposits constituted a valid security interest.
Madras High Court remitted GST assessments to authorities after finding that Hind Aluminium failed to substantiate its replies and VAT turnover was included.
