Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
The High Court allowed the petition in part and directed the respondents to restore the input tax credit (ITC) of Rs. 9,83,53,032/- in the petitioner's Electronic Credit Ledger within four weeks. The Court held that the reversal of ITC by the respondents during the summons proceedings without an adjudication process was a violation of Article 265 of the Constitution of India and contrary to the provisions of Sections 16, 41, and 73/74 of the CGST Act. The ITC was initially claimed by the petitioner for exports and was debited twice, once during the summons proceedings and again when filing the refund application, leading to the Court's directive to restore the ITC amount.
The High Court allowed the petition in part and directed the respondents to restore the input tax credit (ITC) of Rs. 9,83,53,032/- in the petitioner's Electronic Credit Ledger within four weeks. The Court held that the reversal of ITC by the respondents during the summons proceedings without an adjudication process was a violation of Article 265 of the Constitution of India and contrary to the provisions of Sections 16, 41, and 73/74 of the CGST Act. The ITC was initially claimed by the petitioner for exports and was debited twice, once during the summons proceedings and again when filing the refund application, leading to the Court's directive to restore the ITC amount.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4782
Join Channel
TaxTMI 
