Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
The High Court held that Circular No. 135/15/2020-GST, which dealt with the refund of Input Tax Credit (ITC) accumulated due to the Inverted Tax Structure, was in conflict with Section 54(3)(ii) of the Act. The Appellate Authority had allowed the appeal solely relying on this Circular, which did not withstand judicial scrutiny. Consequently, the impugned order was set aside, and the matter was remitted back to the Appellate Authority to decide the appeal afresh in accordance with the law. The petition was allowed by way of remand.
The High Court held that Circular No. 135/15/2020-GST, which dealt with the refund of Input Tax Credit (ITC) accumulated due to the Inverted Tax Structure, was in conflict with Section 54(3)(ii) of the Act. The Appellate Authority had allowed the appeal solely relying on this Circular, which did not withstand judicial scrutiny. Consequently, the impugned order was set aside, and the matter was remitted back to the Appellate Authority to decide the appeal afresh in accordance with the law. The petition was allowed by way of remand.
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