Monday, 16 December 2019

ITC allowed on lease rental paid for residential accommodation - CESTAT



CESTAT Blore in the case of Bhuwalka Pipes while allowing the Cenvat credit held that “Perusal of the rental agreement shows that the premises can be used for residential, guesthouse and back office purposes and the appellant have used the same for business purpose only. Thus, the inclusive clause in the definition of input service covers the impugned input service - decided in favor of appellant

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GAAR Not Applicable to Genuine Capital Market Transactions: Telangana High Court

In a significant ruling, the Telangana High Court held that General Anti-Avoidance Rules (GAAR) cannot be invoked merely because a transacti...