AAR: Denies ITC on immovable commercial property construction, subsequently used for ‘renting’

Maharashtra AAR denies Input Tax Credit (ITC) on input and input services used for construction of commercial immovable property by the applicant on own account which is subsequently let out; Peruses Section 17 dealing with the apportionment of credit and blocked credit wherein Section 17(5)(d) which bars a taxable person from taking ITC for construction of immovable property which is on his own account, even when such goods or services are used in the course or furtherance o...