Issues: Whether accumulated input tax credit attributable to higher-taxed packaging materials is refundable under Section 54(3)(ii) of the Central Goods and Services Tax Act, 2017, where bulk tea and packaged tea are both taxable at 5%, notwithstanding circulars restricting refund where input and output supplies are the same.

Analysis: Section 54(3)(ii) permits refund where input tax credit accumulates because the tax rate on inputs exceeds that on output supplies. Packaging materials, PET containers and printed flexible packaging used for marketing packaged tea are inputs within Section 2(59) of the Central Goods and Services Tax Act, 2017; their 18% tax rate against the 5% output rate creates an inverted duty structure. Circular No. 135/05/2020-GST dated 31.03.2020 applies to cases involving reduction of tax rate on the same goods at different points of time and does not govern this situation. A circular issued under Section 168(1) cannot introduce a restriction that curtails a refund otherwise available under the statute.

Conclusion: Accumulated input tax credit on the higher-taxed packaging inputs is refundable under Section 54(3)(ii) of the Central Goods and Services Tax Act, 2017, and the cited circulars do not bar the refund.

Issues: Whether credit notes issued and reported during the relevant refund period are deductible from adjusted total turnover for computing refund of accumulated input tax credit.

Analysis: The credit notes were verified against the GSTR-1 statements, voucher register and the Chartered Accountant certificate, which established that they were issued during the relevant period and within the time stipulated under Section 34(2) of the Central Goods and Services Tax Act, 2017. Under Section 34(1), where supplies are returned or the taxable value requires reduction, the corresponding credit note reduces the taxable value of outward supplies. Excluding such credit notes from the adjustment would artificially inflate adjusted total turnover for the refund formula under Rule 89(4) of the Central Goods and Services Tax Rules, 2017.

Conclusion: Credit notes validly issued during the refund period must be deducted from outward taxable supply while determining adjusted total turnover; the issue is decided in favour of the assessee.

Issues: Whether credit notes issued during the refund period under Section 34 of the Central Goods and Services Tax Act, 2017 are deductible from gross turnover while computing adjusted total turnover for refund under Rule 89(5) of the Central Goods and Services Tax Rules, 2017.

Analysis: Section 34(1) recognises issuance of credit notes where, inter alia, supplied goods are returned, thereby requiring corresponding adjustment of taxable turnover; Section 34(2) governs the permissible time for such adjustment. The credit notes were issued during the relevant period, within the prescribed time, and their particulars matched the GSTR-1 statements and the Chartered Accountant's certificate. Their exclusion would artificially enhance turnover even though the taxable value stood reduced through the credit notes.

Conclusion: Valid credit notes issued during the relevant period must be deducted from turnover in computing adjusted total turnover under Rule 89(5).

Issues: (i) Whether refund of accumulated input tax credit under the inverted duty structure is available where the principal input and output attract the same rate of tax, but other inputs attract higher rates of tax; (ii) Whether Circular No. 135/05/2020-GST and Circular No. 173/05/2022-GST apply to deny the refund claim.

Issue (i): Whether refund of accumulated input tax credit under the inverted duty structure is available where the principal input and output attract the same rate of tax, but other inputs attract higher rates of tax.

Analysis: Section 54(3)(ii) permits refund where credit accumulates because the tax rate on inputs exceeds that on output supplies. The plural expression "inputs" is not confined to a principal input, and Section 2(59) gives input a broad meaning covering goods used in the course or furtherance of business other than capital goods. The principal raw materials and manufactured stone aggregates were found to be distinct despite their classification under the same HSN and tax rate. The manufacturing activity also used several other inputs taxable at 18% and 28%, while the output was taxable at 5%.

Conclusion: Refund of accumulated input tax credit under the inverted duty structure is admissible. The issue is decided in favour of the assessee.

Issue (ii): Whether Circular No. 135/05/2020-GST and Circular No. 173/05/2022-GST apply to deny the refund claim.

Analysis: Paragraph 3 of Circular No. 135/05/2020-GST concerns accumulation arising from a reduction in the GST rate on the same goods at different points in time. That circumstance was absent, since the principal input and output were taxed at the same rate and the accumulated credit arose from other higher-taxed inputs. Circular No. 173/05/2022-GST, being clarificatory of the earlier circular and concerning concessional supplies, was also inapplicable. A circular issued for uniform implementation cannot curtail a refund entitlement conferred by the statute.

Conclusion: Neither circular applies to deny the refund claim. The issue is decided in favour of the assessee.

Final Conclusion: The statutory conditions for refund on account of an inverted duty structure stand satisfied, and the refund entitlement is unaffected by the cited circulars.

Ratio Decidendi: Refund of accumulated input tax credit under an inverted duty structure is determined with reference to all inputs used in the course or furtherance of business, and an administrative circular cannot restrict the statutory refund entitlement.

Issues: Whether the civil appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016, filed after the maximum permissible period after exclusion of time requisite for obtaining a certified copy, was barred by limitation.

Analysis: Section 62 prescribes forty-five days for an appeal, with a further condonable period not exceeding fifteen days. The Insolvency and Bankruptcy Code, 2016 is a special and self-contained statute whose limitation framework prevails over the appellate provisions of the Companies Act, 2013. The expression "date of receipt of such order" does not permit a litigant to defer commencement of limitation until it elects to apply for or collect a certified copy. Rule 91 of the National Company Law Appellate Tribunal Rules, 2016 treats pronouncement in open court as pronouncement of the order. Under Section 12(2) of the Limitation Act, 1963, only the interval between applying for a certified copy and its availability is excluded; the prior period of inaction is not excludable.

Analysis: Thirty-five days elapsed before the application for a certified copy, and forty-one further days elapsed after its receipt. Even after excluding the thirty-five days required for obtaining the copy, the appeal exceeded the absolute sixty-day limit comprising the statutory period and the maximum condonable period.

Conclusion: The appeal was barred by limitation, and delay beyond the maximum sixty-day period was not capable of condonation.

Issues: (i) Whether the Resolution Professional was required to collate and have the resolution plan address the appellants' late-filed homebuyer claims where no corresponding liability was reflected in the corporate debtor's records; and (ii) Whether the 369-day delay in lodging those claims warranted condonation and admission.

Issue (i): Whether the Resolution Professional was required to collate and have the resolution plan address the appellants' late-filed homebuyer claims where no corresponding liability was reflected in the corporate debtor's records.

Analysis: Regulation 12 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 operates within a time-bound corporate insolvency resolution process. Claims not timely filed may require disclosure in the information memorandum and consideration in the resolution plan where the liability is reflected in the corporate debtor's records. No payment by the appellants towards the claimed units was reflected in those records; the units had been transferred through the holding company, and the settlement relied upon did not bind the corporate debtor. The underlying transactions were also the subject of pending proceedings under Section 66 of the Insolvency and Bankruptcy Code, 2016.

Conclusion: The Resolution Professional was not required to collate the late-filed claims or have them considered in the information memorandum or resolution plan. This issue is decided against the appellants.

Issue (ii): Whether the 369-day delay in lodging those claims warranted condonation and admission.

Analysis: Condonation required a genuine and sufficient cause, particularly in a time-bound insolvency process. The appellants had previously pursued delayed claims concerning other units, obtained condonation, received legal assistance, and participated in the creditors' committee. Their asserted misunderstanding about filing separate claims did not satisfactorily explain the prolonged delay, especially when the claims were lodged after approval of the resolution plan by the creditors' committee.

Conclusion: The 369-day delay was not supported by sufficient cause and the claims were not liable to be admitted. This issue is decided against the appellants.

Final Conclusion: The disputed late-filed claims remain outside the corporate insolvency resolution process, with no requirement for their inclusion in the information memorandum or resolution plan.

Ratio Decidendi: A resolution professional has no independent duty to collate a late claim not reflected in the corporate debtor's records, and condonation of delay requires a genuine and sufficient cause consistent with the time-bound insolvency process.

Issues: (i) Whether a five-day delay in forwarding the arrest order and supporting material to the Adjudicating Authority under Section 19(2) of the Prevention of Money Laundering Act, 2002 vitiated the arrest; (ii) Whether prolonged incarceration and the unlikely early completion of trial warranted bail notwithstanding the twin conditions under Section 45 of the Prevention of Money Laundering Act, 2002.

Issue (i): Whether a five-day delay in forwarding the arrest order and supporting material to the Adjudicating Authority under Section 19(2) of the Prevention of Money Laundering Act, 2002 vitiated the arrest.

Analysis: Section 19(2) requires the arrest order and material to be forwarded immediately, but prescribes no fixed time limit. Immediate forwarding requires expeditious and substantially contemporaneous compliance, allowing time necessarily required to compile and transmit voluminous records and complete administrative requirements.

Conclusion: The five-day delay did not vitiate the arrest or the consequent custody; against the appellant.

Issue (ii): Whether prolonged incarceration and the unlikely early completion of trial warranted bail notwithstanding the twin conditions under Section 45 of the Prevention of Money Laundering Act, 2002.

Analysis: The twin conditions for bail under Section 45 cannot override the constitutional safeguard of personal liberty under Article 21 of the Constitution of India. Completion of the investigation concerning the appellant, custody exceeding twenty months for an offence punishable up to seven years, and a trial involving extensive documentary evidence and numerous witnesses showed that its conclusion was not imminent. Continued custody in those circumstances would turn the process into punishment.

Conclusion: The appellant was entitled to release on bail despite Section 45; in favour of the appellant.

Final Conclusion: The constitutional protection against prolonged pre-trial detention prevailed where the investigation concerning the accused was complete and the trial could not be concluded within a reasonable time.

Ratio Decidendi: Statutory restrictions on bail cannot displace Article 21 where continued pre-trial incarceration is prolonged and completion of trial is not reasonably foreseeable.

Issues: (i) Whether royalty paid by a partnership firm to its partner co-owners for use of a jointly owned trade mark constituted a taxable intellectual-property service; (ii) Whether the extended limitation period could sustain the demand.

Issue (i): Whether royalty paid by a partnership firm to its partner co-owners for use of a jointly owned trade mark constituted a taxable intellectual-property service.

Analysis: Under the service-tax framework, taxability requires a service rendered by one person to another for consideration. The trade-mark rights were co-owned by the partners and were deployed for the partnership's common business. A partner's use or contribution of an asset for the mutual benefit of the partnership does not create a service provider-service recipient relationship or a distinct quid pro quo. The royalty arrangement was therefore in the nature of service to self.

Conclusion: The royalty received by the partners did not constitute a taxable intellectual-property service. This issue was decided in favour of the assessees.

Issue (ii): Whether the extended limitation period could sustain the demand.

Analysis: The royalty payments were disclosed in the accounts, and the records and returns had been regularly available to the department. There was no suppression of facts or intent to evade, particularly as any service tax paid by the partners would have been available as CENVAT credit to the partnership firm. The assessees' bona fide belief regarding absence of a taxable service relationship was also supported by the nature of the arrangement.

Conclusion: The extended limitation period was unavailable, and the demand for that period was unsustainable. This issue was decided in favour of the assessees.

Final Conclusion: The royalty arrangement lay outside the service-tax net and, independently, the extended-period demand lacked a legal basis.

Ratio Decidendi: A partner's deployment of property for the mutual benefit of a partnership, without a distinct service provider-service recipient relationship and quid pro quo for a specific service, is not a taxable service.

Issues: Whether reassessment proceedings could be validly initiated and completed against a corporate debtor during the moratorium under section 14 of the Insolvency and Bankruptcy Code, 2016.

Analysis: Section 14 bars institution or continuation of proceedings against a corporate debtor during the operative moratorium, and section 238 gives the Insolvency and Bankruptcy Code, 2016 overriding effect over inconsistent laws. The reassessment notice and assessment order were issued after commencement of the moratorium, which had not been shown to have ceased. Binding jurisdictional precedent treated income-tax assessment proceedings themselves as impermissible during such moratorium. The authorities relied on by Revenue were distinguishable, being based on different factual circumstances or a different fiscal enactment, and the departmental technical opinion could not prevail over binding precedent.

Conclusion: The reassessment proceedings initiated and completed during the operative moratorium were void ab initio.

Issues: (i) Whether the transfer-pricing adjustment on sale of goods to the associated enterprise requires fresh examination of the tested party, comparables, profit level indicator and transaction-specific scope; (ii) Whether the addition under section 56(2)(viib) on premium received upon issue of compulsorily convertible preference shares, based on a revised discounted cash flow valuation, is sustainable; and (iii) Whether employee stock option expenditure calculated with the adopted fair value is allowable under section 37(1).

Issue (i): Whether the transfer-pricing adjustment on sale of goods to the associated enterprise requires fresh examination of the tested party, comparables, profit level indicator and transaction-specific scope.

Analysis: The selection of the most appropriate method and tested party must rest on the functions performed, assets employed, risks assumed, and availability of reliable comparable data. Comparables must satisfy functional similarity, and the operating profit level indicator must reflect a consistent treatment of operating income and expenditure for both the tested party and comparables. The safe-harbour definition in Rule 10TA cannot be mechanically applied in an ordinary transfer-pricing assessment. Foreign-exchange gains, interest on overdue receivables, employee stock option costs and stamp-duty expenditure require examination according to their actual nexus with operating activities. Any arm's length price adjustment under Chapter X must be confined to the relevant international transactions and not applied indiscriminately to the entire operating base.

Conclusion: The transfer-pricing adjustment is set aside and restored to the Transfer Pricing Officer for fresh examination and recomputation in accordance with the stated principles.

Issue (ii): Whether the addition under section 56(2)(viib) on premium received upon issue of compulsorily convertible preference shares, based on a revised discounted cash flow valuation, is sustainable.

Analysis: Rule 11UA(2) permits the assessee to adopt discounted cash flow valuation for determining fair market value. Although the valuation report and its underlying projections remain open to scrutiny, the selected method cannot be displaced merely because the Revenue prefers a lower valuation. Consolidated projections may be relevant where a wholly owned subsidiary forms part of the business structure, and subsequent performance may corroborate, though not conclusively prove, the reasonableness of the original projections. The material did not establish specific duplication of inter-company revenue or a cogent factual and technical basis for substituting the merchant banker's assumptions with a 20% discount rate, a static EBITDA margin, and a blanket revenue normalisation. The commercial prudence of independent investors was also a relevant surrounding circumstance, though not conclusive of fair market value.

Conclusion: The addition under section 56(2)(viib) in respect of the share premium is deleted in favour of the assessee.

Issue (iii): Whether employee stock option expenditure calculated with the adopted fair value is allowable under section 37(1).

Analysis: Employee stock option expense representing the discount on options granted to employees is an allowable business expenditure when incurred and recognised over the vesting period; actual cash outflow is not essential. Since the fair value adopted for the underlying shares was accepted, the related employee stock option expenditure could not be disallowed on the basis of the rejected valuation objection. The portion already voluntarily disallowed in relation to employees of the subsidiary could not be subjected to a second disallowance.

Conclusion: The disallowance of employee stock option expenditure is deleted in favour of the assessee.

Final Conclusion: The share-premium addition and employee stock option disallowance are eliminated, while the transfer-pricing determination requires fresh adjudication on verified facts.

Ratio Decidendi: A prescribed discounted cash flow valuation may be scrutinised, but the Revenue cannot displace it by substituting its own assumptions without cogent material demonstrating a material error in the valuation methodology or its inputs.

Issues: (i) Whether CENVAT credit could be reversed solely on unreconciled input shortages and SAP Entry 201-T without positive evidence of diversion or non-use; and (ii) Whether a CENVAT credit demand could be sustained on a third-party statement when cross-examination was denied.

Issue (i): Whether CENVAT credit could be reversed solely on unreconciled input shortages and SAP Entry 201-T without positive evidence of diversion or non-use.

Analysis: Rule 9(5) of the CENVAT Credit Rules, 2004 places the burden concerning admissibility of credit upon the manufacturer taking it. However, Rule 14 permits recovery only of credit incorrectly or improperly taken or utilised. The original availment of credit was not alleged to be improper. The shortages and Entry 201-T were found to be accounting adjustments made while reconciling stock during SAP implementation, and did not establish that inputs were diverted, not received, or not used in manufacture. No positive or corroborative evidence established clandestine removal; a demand cannot rest on presumptions and assumptions.

Conclusion: CENVAT credit was not liable to reversal merely on the basis of stock shortages and SAP accounting entries. This finding is in favour of the assessee.

Issue (ii): Whether a CENVAT credit demand could be sustained on a third-party statement when cross-examination was denied.

Analysis: The third-party statement alleging arrangements of invoices without actual supply was unsupported by documentary material or invoice-specific details. Its maker was not made available for cross-examination despite the request. The statement concerning alleged invoice arrangements was also distinct from the statement addressing SAP stock-reconciliation entries. Reliance upon the untested statement to sustain the demand breached principles of natural justice and rendered it inadmissible for that purpose.

Conclusion: The untested third-party statement could not sustain the CENVAT credit demand. This finding is in favour of the assessee.

Final Conclusion: The CESTAT's annulment of the CENVAT credit demand and consequential penalties remains undisturbed.

Issues: (i) Whether the refund adjusted against the disputed demand before any stay was sought was required to be restored; (ii) Whether the subsequent adjustment of refund against the remaining disputed demand was lawful when more than 80% of the demand had already been recovered and the stay proceedings were pending.

Issue (i): Whether the refund adjusted against the disputed demand before any stay was sought was required to be restored.

Analysis: No stay application had been made before the Assessing Officer or the appellate authority before the earlier adjustment and recovery exceeding 80% of the demand. The assessee approached the Court after that recovery. The CBDT memoranda limiting recovery during pendency of appeal were therefore inapplicable. Though the adjustment without an opportunity of hearing was arbitrary, the lapse of more than three years weighed against ordering restitution.

Conclusion: Restoration of the earlier adjusted refund was declined, against the assessee.

Issue (ii): Whether the subsequent adjustment of refund against the remaining disputed demand was lawful when more than 80% of the demand had already been recovered and the stay proceedings were pending.

Analysis: The further adjustment was made while the writ petition and the stay application were pending, notwithstanding the assessee's representation that more than 80% of the demand had already been recovered. CBDT recovery instructions bind the Assessing Officer, and declaration of the assessee as in default does not deprive it of their benefit. No prior intimation under Section 245 was shown before the subsequent adjustment.

Conclusion: The subsequent recovery was a colourable and unlawful exercise of power; the adjusted amount was required to be refunded with applicable interest, in favour of the assessee.

Final Conclusion: The later adjustment of refund was required to be restituted, while the earlier adjustment remained undisturbed; the pending statutory appeal was to be decided expeditiously.

Ratio Decidendi: Where CBDT recovery instructions apply, tax authorities remain bound by them notwithstanding default status and cannot make a further refund adjustment without the requisite Section 245 intimation while a stay is pending after substantial recovery of the disputed demand.

Issues: (i) Whether inherent jurisdiction should be exercised to interfere with the trial Court's directions concerning supply of relied-upon documents under Sections 207 and 208 of the Code of Criminal Procedure, 1973; (ii) Whether adverse remarks about the petitioner and the investigating officer warranted expunction; and (iii) Whether the standing requirement that the investigating officer attend every hearing should continue.

Issue (i): Whether inherent jurisdiction should be exercised to interfere with the trial Court's directions concerning supply of relied-upon documents under Sections 207 and 208 of the Code of Criminal Procedure, 1973.

Analysis: Exercise of inherent jurisdiction under Section 528 of the Bharatiya Nagarik Suraksha Sanhita, 2023 is confined to cases of patent illegality or want of jurisdiction. The questions whether the best available copies had been supplied and whether particular documents remained unavailable were factual matters pending determination on the trial Court's record. The directions for supply of documents accord with the fair-trial safeguards underlying Sections 207 and 208 of the Code of Criminal Procedure, 1973, whose principles apply to complaints under the Prevention of Money Laundering Act, 2002 after cognizance.

Conclusion: Interference with the substantive directions concerning supply of relied-upon documents was declined, and the issue was decided against the petitioner.

Issue (ii): Whether adverse remarks about the petitioner and the investigating officer warranted expunction.

Analysis: The trial Court's record of what transpired at the hearing is conclusive, and any alleged misrecording must be brought before that Court. The impugned observations arose from repeated unmet assurances regarding document supply and were directed toward securing procedural compliance; they did not amount to findings on the bona fides or integrity of the officers concerned.

Conclusion: Expunction was declined, but the observations were clarified not to influence the document-supply determination or be used against the petitioner or its officers in other proceedings.

Issue (iii): Whether the standing requirement that the investigating officer attend every hearing should continue.

Analysis: The trial Court may require the investigating officer's attendance when necessary for case progress, including for clarifications concerning documents or digital devices. An unconditional requirement of attendance on every date, irrespective of necessity, was not required.

Conclusion: The standing attendance direction was modified; the investigating officer is required to appear physically or through permitted video-conferencing only where an order specifically requires attendance and states its purpose.

Final Conclusion: The trial Court's expedited process for completing document disclosure remains operative, while the investigating officer's attendance is confined to dates on which it is specifically required.

Ratio Decidendi: Inherent jurisdiction cannot be invoked to pre-empt the trial Court's factual determination of compliance with document-disclosure requirements absent patent illegality or want of jurisdiction.

Issues: (i) Whether absence of accusation in the scheduled offence bars prosecution for money-laundering under Section 3 of the Prevention of Money Laundering Act, 2002; (ii) Whether an auditor may prima facie be proceeded against as an "other officer" under Section 70 of the Prevention of Money Laundering Act, 2002; and (iii) Whether the prosecution complaint disclosed a prima facie case warranting refusal of quashing under Section 482 of the Code of Criminal Procedure, 1973.

Issue (i): Whether absence of accusation in the scheduled offence bars prosecution for money-laundering under Section 3 of the Prevention of Money Laundering Act, 2002.

Analysis: Section 3 covers a person who directly or indirectly assists, participates in, or is involved with proceeds of crime, including their concealment, possession, acquisition, use, or projection as untainted property. The statutory explanation treats such activity as a continuing offence. A person who enters the transaction after commission of the scheduled offence may therefore be proceeded against where the scheduled offence subsists and the material indicates assistance in handling its proceeds of crime.

Conclusion: Absence of accusation in the scheduled offence does not bar prosecution under Section 3 where the person is prima facie connected with laundering the proceeds of a subsisting scheduled offence.

Issue (ii): Whether an auditor may prima facie be proceeded against as an "other officer" under Section 70 of the Prevention of Money Laundering Act, 2002.

Analysis: Section 70 extends vicarious liability to directors, managers, secretaries, and other officers where the company's contravention is attributable to their consent, connivance, or neglect. The duties of an auditor under Section 143 of the Companies Act, 2013 include scrutiny of accounts, transactions, loans, and advances. The material indicated that the auditor of family-controlled companies was allegedly connected with fictitious entries, diversion and layering of funds through shell entities. The auditor's appointment was also prima facie inconsistent with the disqualification prescribed by Section 141(3) of the Companies Act, 2013. Whether the alleged transactions occurred without knowledge remains a matter for trial.

Conclusion: An auditor may prima facie fall within the expression "other officer" under Section 70 and be proceeded against where material indicates involvement in, or connivance with, the company's laundering activity.

Issue (iii): Whether the prosecution complaint disclosed a prima facie case warranting refusal of quashing under Section 482 of the Code of Criminal Procedure, 1973.

Analysis: Inherent jurisdiction to quash criminal proceedings is exercisable sparingly and does not permit an assessment of the reliability or genuineness of the allegations. The complaint and investigation material prima facie indicated accommodation entries, diversion and layering of loan funds, and a commission allegedly earned for facilitating the transactions. These allegations disclosed an offence under the PMLA and required adjudication on evidence at trial.

Conclusion: The complaint disclosed a prima facie case, and no ground existed for quashing the proceedings at the preliminary stage.

Final Conclusion: The allegations concerning laundering of proceeds of crime and the accused's asserted role in the corporate transactions must be tested through trial.

Issues: (i) Whether the disallowance of input tax credit as time-barred under Section 16(4) was sustainable; (ii) Whether the assessment on the remaining issues, made without a personal hearing after portal-only notice, required remand.

Issue (i): Whether the disallowance of input tax credit as time-barred under Section 16(4) was sustainable.

Analysis: The limitation issue stood covered by an earlier common order that had quashed a departmental order on the same point.

Conclusion: The limitation-based disallowance of input tax credit was unsustainable; the assessment was quashed to that extent, in favour of the assessee.

Issue (ii): Whether the assessment on the remaining issues, made without a personal hearing after portal-only notice, required remand.

Analysis: Uploading a notice on the GST portal is a valid mode of service. However, where repeated portal communications receive no response, the officer must explore other prescribed modes under Section 169(1), preferably registered post, to secure effective service. Passing an ex parte assessment without such effort and without personal hearing amounts to empty formality and offends the principles of natural justice.

Conclusion: The assessment on the remaining issues was set aside for fresh consideration through an effective notice-and-hearing process, in favour of the assessee.

Final Conclusion: The input-tax-credit limitation demand cannot stand, while the remaining assessment questions require redetermination after compliance with the directions for payment, reply, and personal hearing.

Ratio Decidendi: Where portal-uploaded notices elicit no response, an ex parte assessment without personal hearing requires the officer to use other prescribed modes of service to secure effective notice.

Issues: Whether input tax credit claimed for the relevant financial years could be denied solely on limitation under Section 16(4) where it fell within the extended period retrospectively provided by Section 16(5).

Analysis: Section 16(5), inserted with retrospective effect from 01.07.2017, permits registered persons to avail input tax credit relating to financial years 2017-18 to 2020-21 through returns filed up to 30.11.2021, notwithstanding Section 16(4). The limitation-based reversal was therefore inconsistent with the subsequently applicable statutory entitlement.

Conclusion: The limitation-based reversal of input tax credit falling within the period under Section 16(5) does not survive; the petitioner is entitled to consequential release of recovery measures and adjustment or refund of amounts recovered on that basis.

Issues: Whether payments for live-feed broadcast rights constituted royalty taxable under Section 9(1)(vi) of the Income-tax Act, 1961.

Analysis: The issue stood governed by the earlier ruling involving the same assessee. A payment for rights confined to live telecast of specified matches does not yield an enduring benefit. Royalty may arise where the licensee obtains rights to record, preserve, re-telecast, or otherwise commercially exploit the feed beyond the stipulated event or period; such rights were absent.

Conclusion: Payments for the live-feed rights were not taxable as royalty under Section 9(1)(vi) of the Income-tax Act, 1961; the question was answered against the Revenue.

Issues: Whether penalty for accepting a cash advance towards sale of immovable property in contravention of the prescribed mode of receipt was sustainable despite the assessee's claim of reasonable cause.

Analysis: Section 269SS covers a specified sum received as an advance or otherwise in relation to transfer of immovable property; therefore, receipt of the cash advance constituted a technical contravention. However, Section 273B precludes penalty under Section 271D where the assessee proves reasonable cause. The sale agreement, subsequent completion of sale, confirmation of the transaction, substantial outstanding housing loan, modest annual income, and the necessity to realise funds to discharge the secured liability established that the transaction was genuine and arose from bona fide financial exigency. No material showed that the transaction was fictitious, intended to introduce undisclosed money, or designed to evade tax.

Conclusion: The assessee established reasonable cause under Section 273B; consequently, the penalty under Section 271D was unsustainable and was liable to be deleted.

Issues: Whether a delay of 735 days in filing the appeal against the revision order was supported by sufficient cause.

Analysis: The explanation based on reliance on professional assistance, delay in monitoring communications, and change of auditor did not satisfactorily account for the prolonged inaction. Participation through professional representation in the consequential assessment proceedings indicated that the revision order had not been timely challenged; filing the appeal only after the consequential assessment was treated as an afterthought.

Conclusion: The delay was not condoned.