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Transitional Credits: Time limit under Rule 117 is mandatory and not directory: Madras HC

July 21, 2020
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Madras HC ruled that object and purpose of Section 140 clearly warrants the necessity of time limit for transitional credit to be finite. Time limit permitting availment of Transitional ITC, in perpetuity, would render the provision unworkable. Thus, time limit under Rule 117 is mandatory and not directory.
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