Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Refund of accumulated unutilised ITC was denied on the premise that refund under Section 54(3)(ii) of the CGST Act is unavailable where the input and output are the same and the rate comparison should be confined to the principal input vis-Ã -vis principal output. Relying on binding precedent, it was held that Section 54(3)(ii) does not bar refund merely because input and output are identical, and the proviso does not require comparing only the tax rate on the principal input with that on the principal output supply; nor can refund be restricted only to cases where the main input rate exceeds the principal output rate. Consequently, the impugned orders were set aside and the refund claim was allowed. - HC
Refund of accumulated unutilised ITC was denied on the premise that refund under Section 54(3)(ii) of the CGST Act is unavailable where the input and output are the same and the rate comparison should be confined to the principal input vis-Ã -vis principal output. Relying on binding precedent, it was held that Section 54(3)(ii) does not bar refund merely because input and output are identical, and the proviso does not require comparing only the tax rate on the principal input with that on the principal output supply; nor can refund be restricted only to cases where the main input rate exceeds the principal output rate. Consequently, the impugned orders were set aside and the refund claim was allowed. - HC
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