Assessment time-barred u/s 153 due to missing competent-authority reference for Singapore exchange of information; assessment disallowed as barred by ...
Imported menthol-scented sweet supari classification dispute: seizure quashed, release for home consumption subject to duty bond; bank guarantee refus...
CKD/SKD air-conditioner components classifiable with finished units by essential character; prior advance ruling extended three years, FTA benefits po...
Scope of judicial review under Article 226: supervisory, not appellate; factual reappraisal barred, challenge dismissed; insolvency professional dutie...
Refund of unutilized input tax credit under an inverted duty structure had to be reconsidered by the competent authority in light of the Supreme Court's ruling in Union of India v. VKC Footsteps India Pvt. Ltd., which upheld the restriction of refund under Rule 89(5) to input goods and excluded input services from Net ITC. The High Court did not examine the petitioner's computation on merits, as the refund issue was to be freshly decided under the settled legal position. If the authority disagreed with the petitioner's computation, it was directed to pass a speaking order giving specific reasons expeditiously.
Refund of unutilized input tax credit under an inverted duty structure had to be reconsidered by the competent authority in light of the Supreme Court's ruling in Union of India v. VKC Footsteps India Pvt. Ltd., which upheld the restriction of refund under Rule 89(5) to input goods and excluded input services from Net ITC. The High Court did not examine the petitioner's computation on merits, as the refund issue was to be freshly decided under the settled legal position. If the authority disagreed with the petitioner's computation, it was directed to pass a speaking order giving specific reasons expeditiously.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
