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Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
Mutual fund maturity rules require proper rollover, redemption, disclosure, and due diligence; investor gains cannot excuse regulatory breaches or pen...
The HC dismissed the petition for refund of unutilized ITC. It held that the petitioner had duly discharged output tax liability for March 2021 through electronic cash ledger, and the accumulated ITC in electronic credit ledger could be utilized for future tax liabilities. Since none of the conditions u/s 54(3) of CGST Act were met, the claim for refund of accumulated ITC was not maintainable. The HC found no illegality in the impugned order rejecting refund claim.
The HC dismissed the petition for refund of unutilized ITC. It held that the petitioner had duly discharged output tax liability for March 2021 through electronic cash ledger, and the accumulated ITC in electronic credit ledger could be utilized for future tax liabilities. Since none of the conditions u/s 54(3) of CGST Act were met, the claim for refund of accumulated ITC was not maintainable. The HC found no illegality in the impugned order rejecting refund claim.
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