Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
The High Court held that the limitation provision applicable to refund claims is the one in force on the date of the underlying transaction, so the amended Explanation 2(e) to Section 54 of the CGST Act could not retrospectively curtail refund rights for periods before 1 February 2019. It further held that refund of unutilised input tax credit on zero-rated supplies is governed by Explanation 2(e), not Explanation 2(a), because such claims depend on credit accrual, ledger reflection, return filing and remaining unutilised. The orders rejecting the claims as time-barred were set aside and the refund applications were directed to be processed on merits.
The High Court held that the limitation provision applicable to refund claims is the one in force on the date of the underlying transaction, so the amended Explanation 2(e) to Section 54 of the CGST Act could not retrospectively curtail refund rights for periods before 1 February 2019. It further held that refund of unutilised input tax credit on zero-rated supplies is governed by Explanation 2(e), not Explanation 2(a), because such claims depend on credit accrual, ledger reflection, return filing and remaining unutilised. The orders rejecting the claims as time-barred were set aside and the refund applications were directed to be processed on merits.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
