Corporate Compliance 14 August 2026
ITC Benefit Not Denied Due To Delay
The Kerala High Court has ruled that ITC benefit cannot be denied merely due to delay in rectification, this ruling has implications for businesses and their tax filings, particularly those dealing with ITR-7 online filing utility which has gone live for AY 2026-27, the court's decision is seen as a relief for companies that have faced delays in their tax filings and rectification processes
The Kerala High Court has made a significant ruling regarding the denial of ITC benefit due to delay in rectification. *Key points to note*:
- The court has stated that ITC benefit cannot be denied merely due to delay in rectification.
- This ruling has implications for businesses and their tax filings, particularly those dealing with ITR-7 online filing utility which has gone live for AY 2026-27.
- The court's decision is seen as a relief for companies that have faced delays in their tax filings and rectification processes.
Some important due dates to keep in mind include the due dates of filing ROC return and XBRL filing due dates with MCA
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