Trademark depreciation and section 14A adjustments: ITAT applies consistency, independent book-profit computation, and no disallowance without exempt ...
Rebuttable search presumptions and corroboration standards shaped deletion of unsubstantiated additions, while rental income and limited profit estima...
IGST refund on exports could not be denied merely because the exporter had taken higher duty drawback, since the rejection rested on Circular No. 37/2018-Cus, which had already been found inconsistent with the governing rules. The HC held that an executive circular cannot override statutory provisions or binding precedent, and the claim had to be examined under the applicable rules rather than the circular. The rejection order was set aside, and the matter was remanded for fresh consideration after granting the exporter a reasonable hearing.
IGST refund on exports could not be denied merely because the exporter had taken higher duty drawback, since the rejection rested on Circular No. 37/2018-Cus, which had already been found inconsistent with the governing rules. The HC held that an executive circular cannot override statutory provisions or binding precedent, and the claim had to be examined under the applicable rules rather than the circular. The rejection order was set aside, and the matter was remanded for fresh consideration after granting the exporter a reasonable hearing.
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