Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
HC ruled that rejection of GST pre-deposit refund application on grounds of time bar under Section 54 is invalid. The court interpreted the word "may" in Section 54 as directory rather than mandatory, following SC precedent. The judgment emphasized that statutory pre-deposit refund is a vested right after successful appeal, and cannot be forfeited using Section 54's time limitation. The court noted this would conflict with the three-year limitation period under Article 137 of Limitation Act for money suits. Since pre-deposit was made from assessee's own funds without unjust enrichment, restricting refund by reading "may" as "shall" would be arbitrary. The deficiency memo rejecting the refund application was quashed.
HC ruled that rejection of GST pre-deposit refund application on grounds of time bar under Section 54 is invalid. The court interpreted the word "may" in Section 54 as directory rather than mandatory, following SC precedent. The judgment emphasized that statutory pre-deposit refund is a vested right after successful appeal, and cannot be forfeited using Section 54's time limitation. The court noted this would conflict with the three-year limitation period under Article 137 of Limitation Act for money suits. Since pre-deposit was made from assessee's own funds without unjust enrichment, restricting refund by reading "may" as "shall" would be arbitrary. The deficiency memo rejecting the refund application was quashed.
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