Delhi HC's interim relief allows transitional ITC beyond 1 year, till finalisation of matter

Delhi HC grants interim relief to petitioner by allowing Input Tax Credit (ITC) on pre-GST stock despite stipulation in Section 140(3)(iv) of CGST Act restricting transitional credit up to 1 year; Notes assessee’s contention that such restriction upon persons possessing invoice is arbitrary inasmuch as proviso thereto allows deemed credit at prescribed percentage without any restriction to persons not possessing invoice; HC directs that credit for period beyond 1 ...