Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
Business reorganisation requires recognition of successor's modified return; draft orders against dissolved transferor quashed and fresh review direct...
Pre-commencement R&D deduction denied where business had not commenced; deeming benefit requires tangible start of manufacture or commercial exploitat...
A refund claim for an amount already adjusted against a disputed tax demand was not entertained while the related assessment appeal remained pending. The High Court noted that the assessee had itself treated the adjustment as payment or set-off against outstanding liability and had relied on that position to obtain a stay of demand. In those circumstances, it was not appropriate to seek refund in writ proceedings before the appellate dispute was decided. The prayer for refund was declined at that stage, with liberty to revive the claim after disposal of the appeal, and the pending appeal was directed to be decided expeditiously.
A refund claim for an amount already adjusted against a disputed tax demand was not entertained while the related assessment appeal remained pending. The High Court noted that the assessee had itself treated the adjustment as payment or set-off against outstanding liability and had relied on that position to obtain a stay of demand. In those circumstances, it was not appropriate to seek refund in writ proceedings before the appellate dispute was decided. The prayer for refund was declined at that stage, with liberty to revive the claim after disposal of the appeal, and the pending appeal was directed to be decided expeditiously.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4814 
Join Channel 
