Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
Priority of set-off: brought forward business losses must be adjusted before unabsorbed depreciation; procedural safeguards required for invoking rest...
Refund of central excise duty claims contend that reversal/payment of CENVAT credit or discovery of mistake of law permits refund; Tribunal clarifies that where final products are excisable and duty relates to inputs, refunds are permissible only in accordance with the statutory refund regime and within the prescribed time limit for refund claims. An unconstitutional levy paid without statutory authority alone falls outside the time limit. A claimant must succeed in its own litigation to obtain refund based on mistake of law and cannot rely on orders in favour of another assessee. Consequently, time-barred refund claims beyond the prescribed period are not maintainable.
Refund of central excise duty claims contend that reversal/payment of CENVAT credit or discovery of mistake of law permits refund; Tribunal clarifies that where final products are excisable and duty relates to inputs, refunds are permissible only in accordance with the statutory refund regime and within the prescribed time limit for refund claims. An unconstitutional levy paid without statutory authority alone falls outside the time limit. A claimant must succeed in its own litigation to obtain refund based on mistake of law and cannot rely on orders in favour of another assessee. Consequently, time-barred refund claims beyond the prescribed period are not maintainable.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
