Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Provisional release of seized imports requires enhanced duty payment, bank guarantee and disclosures while customs adjudication proceeds independently...
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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