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1 - 10 of 19 (0.41 seconds)Section 73 in The Central Goods and Services Tax Act, 2017 [Entire Act]
The Central Goods and Services Tax Act, 2017
Section 50 in The Central Goods and Services Tax Act, 2017 [Entire Act]
The Integrated Goods and Services Tax Act, 2017
Section 79 in The Central Goods and Services Tax Act, 2017 [Entire Act]
Jet Airways (India) Ltd. vs Commissioner Of Service Tax, Mumbai-I on 17 April, 2017
50. The substratal principle followed by the Tribunal in Jet Airways
(I) Ltd. v. Commissioner of Service Tax, Mumbai6 and the Bombay
High Court in Apar Industries Ltd. v. B.S Ganu7 is that if the assessee
does not prevail in its contention regarding the taxability and is held to
be liable to pay tax, the assessee need not be deprived of the benefit of
other provisions that may as a consequence be available to the assessee.
It is necessary to bear in mind that levy of tax is not a punitive measure.
Thus, if an assessee has filed its return on the belief that it is not liable
to pay taxes and the said assumption is found to be erroneous, the
assessee may be fastened with the liability to pay tax but ought not be
deprived of the benefit of other provisions that are available in such
eventuality.
Section 54 in The Central Goods and Services Tax Act, 2017 [Entire Act]
Commissioner Of Income-Tax, Madras vs V. Mr. P. Firm, Muar on 26 October, 1964
Refund of unutilized ITC or GST is available only in
Signature Not Verified
Digitally Signed
By:DUSHYANT W.P.(C) No.2918/2021 Page 28 of 37
RAWAL
Signing Date:05.12.2023
terms of the relevant statutory provisions. A claim for refund of tax
collected in accordance with law is a statutory right and is circumscribed
by the statutory provisions. There is little scope for imputing principles
of equity in matters of tax, which are covered by the statutory
provisions. As observed by Subba Rao J in Commissioner Income Tax,
Madras & Anr v. V. MR P. Firm Mua & Ors.3,"equity is out of place
in tax law".