Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Section 142(3) of the CGST Act does not create a fresh refund right where the underlying CENVAT credit entitlement had already expired under the six-month limit from the duty-paying document. The Tribunal held that credit on the challan dated 09.05.2019 could be taken only until 09.11.2019, so a later transitional refund claim was time-barred. The COVID limitation extension could not revive a claim that had already lapsed before the pandemic period. It also held that excess payment against the bill of entry was customs duty, so any refund had to be claimed under Section 27 of the Customs Act; reliance on the EODC was misplaced.
Section 142(3) of the CGST Act does not create a fresh refund right where the underlying CENVAT credit entitlement had already expired under the six-month limit from the duty-paying document. The Tribunal held that credit on the challan dated 09.05.2019 could be taken only until 09.11.2019, so a later transitional refund claim was time-barred. The COVID limitation extension could not revive a claim that had already lapsed before the pandemic period. It also held that excess payment against the bill of entry was customs duty, so any refund had to be claimed under Section 27 of the Customs Act; reliance on the EODC was misplaced.
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