Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
HC held that Section 54(3)(ii) of CGST Act permits refund of Input Tax Credit (ITC) where input and output supplies are identical, rejecting restrictive interpretations in Circular No. 135/05/2020-GST. The court found the respondent's orders erroneously relied on inapplicable circular provisions and improperly rejected refund claims. Consequently, the HC quashed the impugned orders, directing the respondent to refund the accumulated ITC with applicable interest within a specified timeframe, thereby affirming taxpayer's statutory entitlement to ITC refund under the inverted duty structure provisions.
HC held that Section 54(3)(ii) of CGST Act permits refund of Input Tax Credit (ITC) where input and output supplies are identical, rejecting restrictive interpretations in Circular No. 135/05/2020-GST. The court found the respondent's orders erroneously relied on inapplicable circular provisions and improperly rejected refund claims. Consequently, the HC quashed the impugned orders, directing the respondent to refund the accumulated ITC with applicable interest within a specified timeframe, thereby affirming taxpayer's statutory entitlement to ITC refund under the inverted duty structure provisions.
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