Hyderabad, July 28 -- The Telangana High Court dismissed two petitions by PH Jewels over a Rs 3.54 crore input tax credit (ITC) refund and alleged diversion of duty-free gold into the domestic market.

The court noted that tax officials had enough reasons to reopen the case. The proceedings were neither time-barred nor lacking jurisdiction, it said.

The dispute rose from an assessment order that had permitted PH Jewels, a retail jewellery establishment, an ITC refund of Rs 3.54 crore, which was later disallowed.

Previously, in October 2023, the High Court ordered the Commercial Taxes Department to release the refund within 30 days. Instead, the department sought a review, stating that the company had withheld key facts regarding the pro...