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...
The HC set aside the impugned order rejecting the petitioner's refund claim of unutilized input tax credit for zero-rated exports, holding the rejection unsustainable where shipping bills dated from 13 Sept 2021 and customs records corroborated export transactions despite the LUT being filed on 26 Aug 2021. The court directed the respondent to process and credit the petitioner's refund with statutory interest within two weeks, and further ordered that if the refund is not credited by 3 Sept 2025, interest at 12% per annum shall be payable to the petitioner. Petition allowed; impugned order dated 14 Nov 2024 quashed.
The HC set aside the impugned order rejecting the petitioner's refund claim of unutilized input tax credit for zero-rated exports, holding the rejection unsustainable where shipping bills dated from 13 Sept 2021 and customs records corroborated export transactions despite the LUT being filed on 26 Aug 2021. The court directed the respondent to process and credit the petitioner's refund with statutory interest within two weeks, and further ordered that if the refund is not credited by 3 Sept 2025, interest at 12% per annum shall be payable to the petitioner. Petition allowed; impugned order dated 14 Nov 2024 quashed.
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