Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Substantive entitlement to re-credit of input tax credit cannot be denied merely because the common portal lacks a corresponding functionality. The High Court noted that the department itself accepted that the taxpayer had sought re-credit after rejection of refund claims and had not pursued any further appeal; the only obstacle was the absence of an option to issue PMT-03 or restore the amount to the electronic credit ledger. Once entitlement to re-credit was undisputed, any procedural lapse was immaterial, and the Court directed restoration of the amount through manual intervention. The writ petition was allowed.
Substantive entitlement to re-credit of input tax credit cannot be denied merely because the common portal lacks a corresponding functionality. The High Court noted that the department itself accepted that the taxpayer had sought re-credit after rejection of refund claims and had not pursued any further appeal; the only obstacle was the absence of an option to issue PMT-03 or restore the amount to the electronic credit ledger. Once entitlement to re-credit was undisputed, any procedural lapse was immaterial, and the Court directed restoration of the amount through manual intervention. The writ petition was allowed.
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