Allowable business expenditure - Lapse of GST input credit - ...

October 18, 2023

Case Laws Income Tax AT

Allowable business expenditure - Lapse of GST input credit - Disallowance u/s 43B - The said GST Credit lapse is not a provision made by the assessee bank. If said credit is not taken then also it will allowable expense as a part and parcel of respective expense. At the time of the assessment proceeding, the learned AO has opined that the GST Credit lapse is an eligible expense and hence he has allowed the same - Revision u/s 263 is not sustainable - AT

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Allowable business expenditure - Lapse of GST input credit - ...

October 18, 2023

Case Laws Income Tax AT

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