South Indian Bank Ltd. Vs Joint Director, Directorate General of GST Intelligence
Date: February 17, 2026
Subject Matter
Banking Companies Not Barred from Depreciation on Unclaimed 50% ITC under Section 17(4)
Summary
The High Court has quashed the show cause notices and partially set aside an Order-in-Original. The Court held that the prohibition under Section 16(3) of the CGST Act, which prevents Input Tax Credit (ITC) when depreciation is claimed on the tax com…
FULL TEXT OF THE JUDGMENT/ORDER OF KERALA HIGH COURT In all these cases, the banking companies registered under the Companies Act, have approached this Court seeking various reliefs. The reliefs in W.P.(C) No.29087/2025 and W.P. (C) No.24348/2025, consist of the challenge against the show cause notices issued to the respective petitioners under Section 74 of the CGST Act. In W.P.(C) No.23546/2024,…