Business expenditure deduction requires proof of genuine commission payments and commercial allowability; turnover growth alone cannot validate the cl...
Article 8 treaty coverage excluded third-party airline support services, while documented demonetisation cash receipts remained accepted business inco...
Functional comparability under TNMM requires highway contract benchmarks to reflect operation, maintenance and transfer activities, requiring fresh be...
The HC held that the petitioners' refund application for accumulated ITC was within the statutory limitation period, relying on the precedent that struck down the relevant circular provision. Although a refund sanction order was issued, a subsequent demand notice and Order-in-Original confirming a tax demand with penalty were challenged. The court found the impugned orders dated 31.3.2023 and 29.2.2024 illegal and unsustainable, quashing and setting aside both the refund rejection and the appeal order. The petition was allowed, thereby validating the refund claim and negating the subsequent tax demand and penalty.
The HC held that the petitioners' refund application for accumulated ITC was within the statutory limitation period, relying on the precedent that struck down the relevant circular provision. Although a refund sanction order was issued, a subsequent demand notice and Order-in-Original confirming a tax demand with penalty were challenged. The court found the impugned orders dated 31.3.2023 and 29.2.2024 illegal and unsustainable, quashing and setting aside both the refund rejection and the appeal order. The petition was allowed, thereby validating the refund claim and negating the subsequent tax demand and penalty.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
