Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Refund of CVD/SAD paid - Unable to avail and utilize the credit of CVD/SAD paid by them as payment was made on 30.09.2020 when no provision exist in GST regime to avail such credit - The Appellate Tribunal observed that since the duty payments were made prior to the implementation of the GST regime, during the period when the Cenvat Credit Rules, 2004, were in force, the appellant was entitled to avail Cenvat credit for the duties paid. Section 142(3) of the CGST Act, 2017, provided a remedy for situations where taxpayers couldn't avail or utilize Cenvat credit due to the transition to the GST regime. It allowed refunds for duties that were cenvatable under the previous law, i.e., Central Excise Act, 1944, and rules made thereunder. - The Appellate Tribunal upheld the refund claim of the appellant.
Refund of CVD/SAD paid - Unable to avail and utilize the credit of CVD/SAD paid by them as payment was made on 30.09.2020 when no provision exist in GST regime to avail such credit - The Appellate Tribunal observed that since the duty payments were made prior to the implementation of the GST regime, during the period when the Cenvat Credit Rules, 2004, were in force, the appellant was entitled to avail Cenvat credit for the duties paid. Section 142(3) of the CGST Act, 2017, provided a remedy for situations where taxpayers couldn't avail or utilize Cenvat credit due to the transition to the GST regime. It allowed refunds for duties that were cenvatable under the previous law, i.e., Central Excise Act, 1944, and rules made thereunder. - The Appellate Tribunal upheld the refund claim of the appellant.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
