Validity of faceless assessment procedure challenged for jurisdictional AO intervention mid-remand, resulting in quashing of assessment for procedural...
Inventory write-off and fraudulent/wrongful trading allegations in corporate insolvency led to director liability principles applied and appeal dismis...
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Entitlement to input tax credit was upheld despite limitation under the former provision because a retrospective amendment inserting Section 16(5) governs eligibility; accordingly, assessment orders that denied ITC solely on limitation grounds are quashed insofar as claims fall within the period prescribed by Section 16(5) and the respondent is restrained from initiating proceedings based only on limitation. Petitioners may apply separately for refund and the Department must decide on merits. Bank accounts frozen under the impugned order must be defrozen and amounts collected may be refunded or adjusted in tax ledgers. The Department retains liberty to pursue cases on merits where fraudulent, wrong or excess ITC claims are alleged.
Entitlement to input tax credit was upheld despite limitation under the former provision because a retrospective amendment inserting Section 16(5) governs eligibility; accordingly, assessment orders that denied ITC solely on limitation grounds are quashed insofar as claims fall within the period prescribed by Section 16(5) and the respondent is restrained from initiating proceedings based only on limitation. Petitioners may apply separately for refund and the Department must decide on merits. Bank accounts frozen under the impugned order must be defrozen and amounts collected may be refunded or adjusted in tax ledgers. The Department retains liberty to pursue cases on merits where fraudulent, wrong or excess ITC claims are alleged.
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