Case Law Details
Case Name : In re Ashish Arvind Hansoti (GST AAR Maharashtra)
Related Assessment Year :
Courts :
AAR Maharashtra Advance Rulings
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In re Ashish Arvind Hansoti (GST AAR Maharashtra)
Question : Whether applicant is eligible to claim input tax credit of GST paid on input & input services used for construction of commercial immovable property, subsequently used for renting?
Section (17) (5) (d) bars a taxable person, in the subject case the applicant, from taking input tax credit for construction of immovable property (as in the subject case) which is on his own account, even when such goods or servic
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On the first. blush comes to one’s mind the BOM. HC judgment in Novel Jolly’s case reported elsewhere on this website; the factual matrix whereof has been set out there in. In that case ,of course, the point of issue(s) decided by the HC was wholly focused on the assessee’s claim for tax exemption on roll over investment . As such, the aspect of GST implication and ITC was not gone into. One is , however, left personally wondering whether that angle , had it been gone into, could/would have made a difference for adjudicating upon the above referred income-tax exemption !!!
As regards income arising from letting out of commercial ‘ÚNITS’, the additional point for consideration is whether, at all, on the facts of and in the circumstances in a given case, there is scope for holding such income to be taxable as ‘business income’ , instead of as ‘house property income’. More so, if that is a case in which assessee is taken to be entitled to and therefore, as per his lawyer’s advice has claimed tax benefit (deduction) under the applicable provisions of sec 80 IA, etc., included in CHAPTER VI -A of the IT ACT. A study of experts’ commentary in any leading TEXT BOOK and the case law cited therein may be found to be of useful guidance. Even so, as there are numerous court decisions , mutually conflicting at that, for varying reasons, for the purpose of forming one’s own independent opinion, with courage of conviction, in order to put forward and press for before any authority, the exercise must begin with an insightful study and incisive understanding of the provisions of the governing law, – if there be more than one, of all such applicable laws. Of course, that is possible provided one has equipped self with, – besides good command over the language (English being the one in which the most statutes are made) – the ability to identify the law (s) to be looked into / through – AGREE !!!
OVER / back to ….
courtesy