Allocation of registration charges: contractual clause overriding statutory presumption allowed as deduction against capital gain after unrebutted doc...
Expenditure tied to investments yielding exempt income restricted to attributable costs; broader disallowance disallowed and adjustments to WDV and mi...
Admissibility of Investigative Statements invalidated reliance on coerced emails and valuation redetermination, resulting in set aside of penalties an...
Classification of printed technical documents: specific Chapter 49.01 entry prevails, enabling claimed customs exemptions for imported manuals and rep...
Transitional input tax credit carried forward from the VAT regime could be utilised under GST, but not converted into a cash refund once it had been brought into the electronic credit ledger. The HC read the transitional provisions together and held that the second proviso to the refund-saving provision bars refund of credit already carried forward, while the refund provision applies only to unutilised GST input tax credit in the cases it specifically covers. It also noted that no prior hearing was given, but refused remand because the dispute turned on a pure question of law. The Court further stated that any rejected refund amount should be re-credited to the electronic credit ledger under the prescribed procedure.
Transitional input tax credit carried forward from the VAT regime could be utilised under GST, but not converted into a cash refund once it had been brought into the electronic credit ledger. The HC read the transitional provisions together and held that the second proviso to the refund-saving provision bars refund of credit already carried forward, while the refund provision applies only to unutilised GST input tax credit in the cases it specifically covers. It also noted that no prior hearing was given, but refused remand because the dispute turned on a pure question of law. The Court further stated that any rejected refund amount should be re-credited to the electronic credit ledger under the prescribed procedure.
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