https://www.taxtmi.com/caselaws?id=464626 GST refund received by an assessee who had treated GST paid on expenses as a current asset, and had not debited it to the profit and loss account, could not be taxed in isolation. The accounting treatment showed an exclusive method under which the GST outgo was never claimed as an expense, so bringing only the refund to tax would create a non-neutral result. The analysis noted that section 145A(ii) applied, but the refund had to be viewed with the corresponding expenditure treatment. On that basis, the addition of the GST refund was unsustainable and was deleted in favour of the assessee. en-us Thu, 30 Jan 2025 00:00:00 +0530 Thu, 06 Nov 2025 14:48:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464626 GST refund received by an assessee who had treated GST paid on expenses as a current asset, and had not debited it to the profit and loss account, could not be taxed in isolation. The accounting treatment showed an exclusive method under which the GST outgo was never claimed as an expense, so bringing only the refund to tax would create a non-neutral result. The analysis noted that section 145A(ii) applied, but the refund had to be viewed with the corresponding expenditure treatment. On that basis, the addition of the GST refund was unsustainable and was deleted in favour of the assessee. Case-Laws Income Tax Thu, 30 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464626